leading stock exchange NSE on Wednesday said it has appointed IDFC chief Vikram limaye as its new Managing Director and CEO -- nearly two months after the sudden exit of Chitra Ramkrishna from the top post. limaye will have a tenure of five years with effect from the date he assume office, NSE said in a statement.
The appointment, which was approved by NSE’s board last week, is subject to approval of shareholders and capital markets regulator Sebi. The appointment comes at a time when the exchange is preparing to launch its IPO estimated to be worth over `10,000 crore. Besides, the bourse is facing regulatory issues over alleged preferential access to a few for co-location and algo trade facilities.
“The Board of Directors of the National Stock Exchange met on February 3 and decided to appoint Vikram limaye as MD and CEO of NSE, subject to approval of shareholders and SEBI, for a period of five years,” the exchange said. Separately, IDFC also said in a regulatory filing that the board of directors of NSE has approved limaye's appointment as the MD &CEO.
He was with IDFC since 2005 and has over 25 years of experience of working with financial institutions, global investment banks, international commercial banks, and global accounting firms. The approval of the NSE board, chaired by Ashok Chawla, came after a 4-member search panel suggested limaye’s name from among the short-listed candidates.