Stock Market

Share Price Of Yes Bank Adds 6 Percent; The Bank Appoints Korn Ferry To Assist Committee In Evaluating Candidates

The share price of YES bank included 6 percent intraday on October 12, 2018. The bank has selected Korn Ferry to help the board in assessing candidates to discover successor for active MD and CEO.

The bank had welcomed proposition from four worldwide authority warning firms having some expertise in BFSI to help the hunt and determination board of trustees in identifying a suitable successor to Rana Kapoor, MD and CEO, Yes Bank.

“Based on assessments and presentations made by global advisory firms, the search and selection committee has mandated Korn Ferry to assist the committee in evaluating candidates,” the moneylender said in an announcement, on October 11, 2018, after the primary meeting of the search board.

The Reserve Bank of India a month ago cut off Kapoor’s term. The YES Bank had started exploring for another boss and set up a hunt board which would be prompted by a worldwide initiative warning firm.

The meeting of the board of directors will be hung on October 25, 2018, to consider and affirm the unaudited financial results of the bank for the quarter finished September 30, 2018.

The share price of YES bank increased in excess of 21 percent over the most recent 5 days. The Yes Bank was citing at Rs 250.55, up Rs 10.55, or 4.40 percent on the BSE. The present market capitalization remains at Rs 57,327.82 crore, according to the report of Moneycontrol.

Monica Agrawal, Head – Financial Services and Co-head – Board Services, Korn Ferry said, “While we appreciate that the timelines are demanding and typically need six-nine months, we are confident that we will be able to help the YES Bank board in identifying an entrepreneurial and effective leader to succeed Rana Kapoor as the MD and CEO of YES Bank.”

It had welcomed proposals for the share price of YES bank from four worldwide leadership advisory firms represented considerable authority in BFSI to help the search committee, according to the report of the Hindu business line.

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