News: YES Bank ropes in advisory firm Korn Ferry to find Rana Kapoor's successor

#Corporate

YES Bank ropes in advisory firm Korn Ferry to find Rana Kapoor's successor

The move comes as current MD & CEO Rana Kapoor’s term was cut short by the Reserve Bank of India.
YES Bank ropes in advisory firm Korn Ferry to find Rana Kapoor's successor

YES Bank has roped in Los Angeles-based advisory firm, Korn Ferry to assist the bank’s committee in its selection of the new MD & CEO. The move comes as current MD & CEO Rana Kapoor’s term was cut short by the Reserve Bank of India (RBI).

Last month, the bank had requested the central bank for an extension of Kapoor's term as MD & CEO, which led to the bank being accused of not having a proper succession plan in place. In the meeting, the board formed a research panel to find the new MD and CEO. To establish a long-term succession plan within YES Bank, two Senior Presidents Rajat Monga and Pralay Mondal, were appointed as executive directors of the bank. Both the positions are subject to RBI’s approval. 

Meanwhile, the advisory firm was appointed in a meeting held yesterday. The bank had invited a proposal from four global leadership advisory firms specializing in the banking and finance sector to assist its five-member expert committee in identifying a new chief executive. The meeting was attended by all members of the “Search and Selection” committee, the bank informed in a filing to the exchanges.

yes bank

Topics: Corporate, Leadership

Did you find this story helpful?

Author

QUICK POLL

Is technology the answer to new-age talent acquisition challenges?

On News Stands Now
q_auto,f_auto/v1560247231/mag-june-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

In the next three years, 120 million jobs in the world’s 10 largest economies will need retraining or re-skilling. To adapt to this new environment and help shape it, employees need to embrace continuous learning. Amid these changes, HR needs to not think, act, or be like traditional HR; they need to understand their job is now “human transformation”. In this issue, we will focus on what HR leaders and organizations need to consider today to prepare for tomorrow.

Subscribe
And Save 59%

Subscribe now