National Stock Exchange on Friday (February 03) selected IDFC Managing Director Vikram Limaye as its new CEO and Managing Director, two months after the sudden exit of Chitra Ramkrishna from the top post.
According to sources, NSE's board approved Limaye's name for the top post but a formal announcement would be made later as some formalities need to be completed from his side.
The appointment, however, would also need capital market regulator Sebi approval.
The approval of the board, chaired by former finance secretary Ashok Chawla, comes after a four-member search panel suggested Limaye's name from amongst the shortlisted candidates.
Limaye is a chartered accountant with an MBA from The Wharton School. At present, Limaye is in Dubai to attend a meeting of the International Cricket Council (ICC).
The appointment comes at a time when the exchange is preparing to launch its IPO estimated to be worth over Rs 10,000 crore. Besides, the bourse is facing regulatory issues over alleged preferential access to a few for co-location and also trade facilities, reported Press Trust of India.
On December 5, the NSE set up a four-member panel to look for the next MD of the bourse. Mahindra & Mahindra group chairman Anand Mahindra, former RBI deputy governor Usha Thorat and independent directors at NSE T V Mohandas Pai and Dinesh Kanabar were the members of this panel.
Of late, he was named in a four-member panel appointed by the Supreme Court for administering cricket body Board of Control for Cricket in India (BCCI).
