Yes Bank soars after appointment of advisory firm Korn Ferry to find new CEO

The bank had invited proposals from four global leadership advisory firms specializing in the banking and financial sector to assist its five-member expert committee in identifying a new CEO for Yes Bank.

Oct 12, 2018 06:10 IST India Infoline News Service

Shares of Yes Bank extended gains during the afternoon session after the bank appointed US-based headhunter Korn Ferry to assist the bank’s committee in its selection of a new managing director & chief executive officer (MD & CEO).

The bank had invited proposals from four global leadership advisory firms specializing in banking and financial sector to assist its five-member expert committee in identifying a new CEO for Yes Bank.

“All members of the 'Search & Selection Committee' headed by Brahm Dutt and comprising of Lt. General Dr. Mukesh Sabharwal (Retd.) -Independent Director (Member- NRC), Subhash Chander Kalia, Non-Executive Non-Independent Director (Member- NRC), T S Vijayan, past Chairman of IRDAI and LIC and 0 P Bhatt, past Chairman, State Bank of India were present in the meeting,” as per a BSE filing.

“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,” the bank added.

A meeting of the board of director’s bank will be held on October 25 to consider and approve the unaudited financial results of the bank for the quarter ended September 30, 2018.

Yes Bank Ltd is currently trading up 2.92% at Rs247 from its previous closing of Rs240 on the BSE.

The scrip opened at Rs248.70 and has touched a high and low of Rs254.60 and Rs245.85 respectively.

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