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YES Bank has an interim MD & CEO

With Rana Kapoor, co-founder and MD and CEO demitting office at YES Bank on 31 January, the bank’s board has appointed Ajai Kumar, a non-executive, non-independent director on the board, as the interim MD & CEO until Ravneet Singh Gill, who has been selected as MD and CEO of the bank, takes over on 1 March.  of Yes Bank, has hung up his boots as the managing director & CEO of the private lender. The bank also announced that its promoter groups headed by Rana Kapoor and Madhu Kapur, wife of later founder Ashok Kapur, had reached an understanding under which each group will appoint one director on the board. Kapoor is credited with making YES Bank the fifth largest private bank with a loan book of over Rs 2.43 lakh crore and a deposit base of Rs 2.22 lakh crore as of December 2018.  The board now consists of nine directors. These include part-time chairman Brahm Dutt, independent director Mukesh Sabharwal, non-executive non-independent director Subhash Chander Kalia and independent director Pratima Sheorey and Ajai Kumar. Uttam Prakash Agarwal, T.S. Vijayan, Maheswar Sahu and Anil Jaggia are the additional (independent) directors.

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