Bank may start search for new CEOs

Bank may start search for new CEOs

CEO BANK

• Succession planning by long servicing Chief Executive Officers of banks is now made compulsory by RBI. CEOs at DCB Bank, RBL Bank and Federal Bank will now have to focus on succession planning after regulator capped their tenures at 15 years.
• DCB Bank CEO Murali Natarajan has completed 12 years and has got a year’s extension this month. Federal Bank CEO Shyam Srinivasan will complete 11 years in coming September when his second consecutive one year extension ends.
• RBL’s Vishwavir Ahuja also completes 11 years in June and is awaiting the RBI’s nod for another three year term after the bank’s board approved such a proposal in January this year.
• Federal Bank and RBL Boards have sought three year terms for their CEOs.
• It now remains to be seen whether RBI will give this extension within the 15 year limit.

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