The MD and CEO of National Stock Exchange Chitra Ramkrishna resigned on Friday. Chitra cited personal reasons for her resignation.
Meanwhile, senior executive K Ravichandran has been named as the interim chief of NSE.
The NSE said that its board of directors has set up a committee for the selection of a new Managing Director and chief executive.
According to the NSE, the board of directors, while accepting her request, appreciated Chitra Ramkrishna’s “sterling contribution” to the growth of the organisation over the long years that she had been associated with it.
“She was part of the team that set up the stock exchange, was appointed as the Joint Managing Director in September 2009 and was elevated to the post of MD and CEO with effect from April 1, 2013,” the statement said.
“The board of NSE has appointed J. Ravichandran, Group President, to hold charge of the office of CEO with immediate effect. Ravichandran has been associated with NSE for long years and brings with him a wealth of experience and full understanding of the functioning of the organisation.”
Chitra Ramkrishna was the first woman to head the NSE and was recently elected the first woman chair of the World Federation of Exchanges (WFE).
The news came at a time when the exchange was preparing to hit the market with its initial public offering (IPO). NSE hired four additional investment banks recently to manage the issue.
Ramkrishna previously held various positions such as Joint Managing Director of NSE, head of listing and Deputy Managing Director of NSE, Member of Derivatives Panel of Sebi, Director of NSE and member of Executive Committee at NSDL since March 9, 2009.
Earlier last month, Ramkrishna was elected the chairwoman of WFE, the global industry association for exchanges and clearing houses, which represents nearly 45,000-listed companies the world over.
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