“Ravneet Gill has joined YES Bank as MD & CEO today. His tenure as approved by RBI is 3 years from the date of his joining, i.e. March 1, 2019, to February 28, 2022,” YES Bank said.
The appointment of Gill will be subject to the approval of shareholders’ at the ensuing annual general meeting of the Bank to be held in June 2019.
Gill is not related to any of the directors of the Bank and he has affirmed that he is not debarred from holding the office of director by virtue of any order of Securities and Exchange Board of India or any other such authority, the private sector lender said.
YES Bank further said that Ajai Kumar has ceased to be an Interim MD and CEO of the Bank with effect from the close of business hours of February 28, 2019. Kumar continues as a non-executive non-independent director on the board of the Bank, it added.
With this, the bank’s new composition of the board of directors has ten members such as Brahm Dutt, part-time chairman; Mukesh Sabharwal independent director.