Rana Kapoor successor: Yes Bank finalises potential candidate profile

Yes Bank Friday said the panel looking for a successor to MD and CEO Rana Kapoor has the finalised potential candidate profile. The Reserve Bank has refused to extend the tenure of Kapoor beyond January 31, 2019.

Earlier this month, the private sector lender appointed US-based head hunter Korn Ferry to assist a panel searching for a successor of Kapoor.

The bank's 'Search & Selection Committee' is headed by Independent Director Brahm Dutt.

"The committee finalised the potential candidate profile. Korn Ferry also shared a representative list of candidate pool, based on initial industry mapping," Yes Bank said in a filing to stock exchanges.

In September, the Yes Bank's board sought at least a three-month extension for Kapoor from the RBI beyond January 31, 2019, stating that finding a suitable successor is a "time consuming challenge".

Last week, the Reserve Bank refused to grant more time to Kapoor and asked the lender to appoint his successor latest by February 1, 2019.

Kapoor has been at the helm of Yes Bank since its inception in 2004.

Shares of Yes Bank Friday ended sharply lower by almost 9 per cent after the company reported a decline in net profit for the quarter ended September.

The stock plummeted 8.97 per cent to close at Rs 180.55 on the BSE.