Ajai Kumar Resigns As Non-Executive Director Of Yes Bank
After Ravneet Gill joined Yes Bank, Kumar ceased to be an Interim MD and CEO of the bank but continued as a non-executive, non-independent director on the board. (Photographer: Dhiraj Singh/Bloomberg)

Ajai Kumar Resigns As Non-Executive Director Of Yes Bank

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Ajai Kumar, a non-executive director of Yes Bank Ltd. who served as the bank's interim managing director and chief executive officer for one month after Rana Kapoor's exit, has resigned from the board due to personal reasons, the private sector lender said on Monday.

Yes Bank had appointed Kumar, who had led state-run Syndicate Bank in the past, as its interim CEO for a month till Ravneet Gill from Deutsche Bank took over from March 1.

The Reserve Bank of India had in September asked Kapoor, co-founder and managing director and chief executive of Yes Bank, to leave office by Jan. 31.

"Ajai Kumar, Non-Executive (Non-Independent) Director of the Bank has tendered his resignation on June 9, 2019, with immediate effect due to personal reasons," Yes Bank said in a stock exchange filing.

After Gill joined Yes Bank, Kumar ceased to be an Interim MD and CEO of the bank but continued as a non-executive, non-independent director on the board.

Over the past few months, Yes Bank has seen several exits, including that of former bureaucrat Ashok Chawla as non-executive chairman of Yes Bank.

Also read: Yes, Bank on Things Being Worse Than They Look

Earlier in January, Yes Bank senior group president and head (retail and business banking) Pralay Mondal had tendered his resignation.

On Monday, Yes Bank shares fell 2.89 percent to Rs 135.90 apiece on the BSE while the benchmark Sensex rose 0.43 percent to end the day at 39,784.52 points.

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