Leading bourse National Stock Exchange‘s (NSE) shareholders have approved the appointment of Ashishkumar Chauhan as the company‘s managing director and chief executive.
Chauhan took over from Vikram Limaye, whose five-year term at NSE ended on July 16. Limaye did not seek another tenure at the National Stock Exchange (NSE) despite being eligible for it.
The Extra Ordinary General Meeting (EOGM) of NSE was held on August 11, according to a statement.
Shareholders approved the appointment of Chauhan, who was the MD and CEO of rival bourse BSE, with 99.99 per cent votes.
He assumed charge as NSE chief on July 26. His appointment at the top post of the NSE was cleared by the capital markets regulator Securities and Exchange Board of India (Sebi) on July 18.
Last month, Sebi gave its nod to the appointment of Chauhan as the new NSE CEO.
The governing body of the NSE set up a four-member internal executive committee to run the affairs of the company till the new MD & CEO takes charge, as Limaye’s term ended last month.
Limaye, NSE’s outgoing MD and CEO, on his last day at the bourse had said that he did his best to lead the exchange in a very “difficult period” and to stabilise and strengthen the bourse.
It must be noted that Limaye’s term came to an end at the bourse amid the NSE facing the regulatory probe in a case pertaining to governance lapses as well as in the co-location matter.
