After Ashok Chawla resigns, Yes Bank shares fall 7%
Extending its loss for the second consecutive day, shares of Yes Bank dropped 7% today on bourses after its non-executive chairman, Ashok Chawla, stepped down with immediate effect. After a negative opening on BSE, the scrip further declined 7.7% to touch an intra-day low of Rs. 190.1. At 1 PM, the shares were being traded at Rs. 190.65, down 7.45% from the previous close.
On NSE also Yes Bank fell 7.6% to Rs. 190
On the National Stock Exchange (NSE) as well the scrip of the Mumbai-headquartered private bank continued to fall, as it tumbled 7.6% to Rs. 190, its lowest during the afternoon trade. Yesterday, the private lender had plunged over 7% on the stock exchanges.
After Chawla, O P Bhatt resigned Yes Bank panel
In a regulatory filing on November 14, Yes Bank announced that Ashok Chawla, non-executive independent part-time chairman, had tendered his resignation from the bank's board, with immediate effect. Further, former State Bank of India Chairman O P Bhatt has also resigned from the panel set up by Yes Bank to find a successor to its MD and CEO, Rana Kapoor.
RBI asks bank to find CEO replacement by January 31
The RBI has already asked the bank to find the replacement of founder MD and CEO by January 31, 2019. Last month, Yes Bank had said the panel looking for a successor to MD and CEO Rana Kapoor has finalized the potential candidate profile.
