Yes Bank Stock Gains 5.5% on Reports of Exiting Asset Management Business
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Yes, the bank sees two resignation names amid reports from Rana Kapoor, looking for a return

Mukesh Sabharwal, the chairman of the nomination and remuneration committee and former interim CEO, Ajai Kumar, both took away personal reasons on Tuesday.

Yes, the bank sees two resignation names amid reports from Rana Kapoor, looking for a return
Image for display. (Photo Reuters)

Yes. On two consecutive days of this week, Bank has left two senior-level board members. This reports that founder Rana Kapoor demands a seat on the board from the bank.

Mukesh Sabharwal, the chairman of the nomination and remuneration committee, stopped on Tuesday for personal reasons. Former interim CEO Ajai Kumar had also stopped on personal grounds on Monday.

According to a report in Economic Times, Rana Kapoor sent two letters in early May calling for renewal of the Yes Bank board and crores of rupees as compensation for lost compensation. "The two letters from Kapoor caused the bitter struggle in the boardroom," the report quoted a person familiar with the issue.
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"There was some sympathy for his demands. Others believed it was against the spirit of the RBI (Reserve Bank of India) decision not to give him another term as CEO. If someone is unsuitable to be CEO, what is it like? then good to sit on the same couch, "the person added.
Sabharwal, who resigned on Tuesday, was appointed to the bank on 25 April 2012 and has spent more than seven years in the Yes Bank. Yes, the bank said that Sabharwal said he wanted to spend quality time on his academic activities and confirmed that there is no other important reason than the commandments.

Meanwhile, one month after Rana Kapoor's resignation, Ajai Kumar was the interim Managing Director (MD) and CEO of the bank.
Yes, Bank had appointed Kumar, who in the past had led state-run Syndicate Bank as an interim successor to Ravneet Singh Gill (who worked at Deutsche Bank India) from March 1.

After Gill joined, Kumar was no longer an interim MD and CEO of the bank and he continued as a non-executive, non-independent director on the board.

Yes. Bank has seen several exits in the recent past, including that of the former bureaucrat Ashok Chawla as the non-executive chairman of Yes Bank. Earlier in January, Yes Bank, senior group chairman and chief retail and investment banking, Pralay Mondal, had resigned.

. (tagsToTranslate) Rana Kapoor (t) Reserve Bank of India (RBI) (t) Stock market (t) Yes Bank (t) yes bank share (t) yes price bank share

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