Yes Bank Hires Headhunter Korn Ferry To Find New CEO
Yes Bank Ltd. today appointed U.S.-based headhunter Korn Ferry to assist an expert panel searching for a successor to outgoing Managing Director and Chief Executive Officer Rana Kapoor.
The bank had invited proposal from four global leadership advisory firms specialising in banking and finance sector to assist its five-member expert committee in identifying a new chief executive. Based on assessments and presentations made by these global advisory firms, the search and selection committee has mandated Korn Ferry to assist the committee in evaluating candidates, Yes Bank said in an exchange filing.
Kapoor, the founder and promoter of the bank, has been asked by the Reserve Bank of India to step down after January 2019.
The committee is headed by independent director Brahm Dutt. Other members include Lt General Mukesh Sabharwal (Retd), independent director; Subhash Chander Kalia, non-executive non-independent director; TS Vijayan, former chairman of IRDAI and LIC; and O P Bhatt, former chairman of the State Bank of India.
All the members of the search panel were present in today’s meeting to hire the recruitment expert.