The bank said it had finalised its recommendation for the role of a non-executive part-time chairman in its meeting held on Thursday, and that it would “promptly” seek approval from the RBI. The post has been vacant since Ashok Chawla
resigned in November, and YES Bank
shares, which rose as much as 3.5 per cent earlier in the session, reversed course to close 6.4 per cent lower at Rs 174.70 on the Bombay Stock Exchange.
The bank said that the two newly appointed additional directors T S Vijayan and Uttam Prakash Agarwal attended their first board meeting on Thursday. The board now comprises eight members with only one vacancy. The bank is yet to finalise the name for a director, especially with information technology expertise, to replace former independent director R Chandrashekhar.