Ashish Kumar Chauhan has been chosen by the Securities and Exchange Board of India (SEBI) to succeed departing National Stock Exchange Managing Director and CEO Vikram Limaye (NSE). At NSE, Limaye’s employment was up on July 16. The Bombay Stock Exchange’s (BSE) current MD and CEO is Ashish Kumar Chauhan.
An internal executive committee has been established by the NSE’s regulatory board to oversee firm operations until the new MD and CEO take over. Yatrik Wing, group chief financial officer and head of corporate affairs, Priya Subramaniam, chief regulatory officer, Shiv Bhasin, chief technology and operations officer, and Somasundaram KS make up the committee. As soon as the new MD& CEO takes office, the committee will be terminated.
Despite being qualified for it, Limaye, whose five-year stint at the NSE expired on July 16, chose not to apply.
The NSE is currently under regulatory investigation in a case involving governance failures at the exchange as well as in the co-location situation as Limaye’s five-year stint as NSE CEO comes to an end. Following the resignation of Chitra Ramkrishna, the former MD and CEO of the exchange, Limaye was named as the NSE’s CEO in July 2017.
On July 16, Vikram Limaye stated that he had made every effort to lead the exchange at a very “difficult period” and to develop and stabilise the bourse.