New Delhi, PTI. The National Stock Exchange (NSE), which has been in the news for the past few days, is looking for a new Managing Director and Chief Executive Officer. The five-year term of the current chief Vikram Limaye ends in July. According to a public notice issued on Friday, the exchange has invited applications from candidates having IPO (initial public offering) experience for the top position role before March 25. Limaye is eligible for another term. However, as per SEBI rules, the incumbent candidate has to compete with other candidates to get the next term.
Know what is required
He was appointed as NSE chief in July 2017 following the exit of Chitra Ramakrishna. Limaye is credited with the rebranding of NSE. Trading in derivatives saw tremendous growth under his leadership. Listing out the eligibility criteria, the NSE notice states that the candidate should have a track record of strengthening corporate governance, enterprise risk management and compliance management framework.
Apart from this, candidates working in a publicly listed company or heading an organization will get additional benefits. After the deadline the candidates will be short-listed by the Nomination and Remuneration Committee of the company. A selection committee constituted by NSE, comprising NRC members and independent external members, will recommend candidates to the board, which will send the names to SEBI for final approval. Presently, the NSE is facing regulatory scrutiny for its governance lapses.
In a recent order, the regulator has penalized former NSE MD and CEO Chitra Ramakrishna, Ravi Narayan and others for various contraventions in a case related to the appointment of Anand Subramaniam as group operating officer and advisor to then MD Ramakrishna .