The country’s oldest stock exchange has also embarked on a search for a CEO and Managing Director as Ashish Kumar Chauhan’s tenure comes to an end.
The move comes at a time when its biggest rival, NSE, which controls a large part of the country’s trade volumes, has begun a similar operation to its boss.
Interestingly, some reports indicate that Chauhan is in a race to take over the corner office in NSE.
In an announcement published Tuesday, the BSE Foundation, founded in 1875, said it was looking for a results-oriented leader with 20 years of experience, with “the highest ethical standards.”
Exchanges have often faced integrity issues – and this has been witnessed by the emergence of scandals.
The NSE, going through a scandal involving a former president, is also emphasizing the governance aspect of its search for a new president.
The ad said that an understanding of financial markets, technology and processes are the qualities required in a candidate.
He added that an expert market leader with an entrepreneurial approach is being sought, capable of operating in a closely supervised and regulated system.
He must have previous experience managing the expectations of diverse stakeholders, including regulators, investors, clients and employees, and must meet the eligibility criteria of the SEBI Capital Markets Regulator.
The announcement indicated that the candidate must have a post-graduate degree or master’s degree, and compensation will be according to industry standards.
She said the appointment could be for up to five years, with April 23 set as the deadline for applications.
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