MCX's board on Friday accepted the resignation of its Managing Director and CEO Manoj Vaish and decided to set up a search committee to look for new chief.
It also approved amendment to the company's 'Article of Association' to include the revised norms on shareholding structure and the fit and proper criteria issued recently by the regulator Forward Markets Commission (FMC) for the national commodity bourses. In a statement, MCX said that the board had "accepted the resignation of Manoj Vaish -- MD and CEO, who will be relieved with affect from May 10, 2014."
A committee of senior executive has been constituted to manage the day to day affairs till the new MD & CEO is appointed, it said.Sources said that a search panel will be constituted to look for a new MCX chief.MCX said that the board also approved amendment to the main object clause of the 'Memorandum of Association' by deleting the words 'securities' and 'ready' and incorporating the words 'including related eco-systems' pursuant to the FMC order.