BSE invites applications for MD & CEO

BSE Ltd has invited applications for the post of managing director and chief executive officer. In a newspaper advertisement, the oldest stock exchange in Asia said that it is looking for a seasoned professional with minimum 20 years experience, of which at least five years should have been in a senior leadership position.

As per SEBI guidelines, a person may be appointed as MD and CEO for a maximum of two terms not exceeding five years each, subject to an age limit of 65 years.

The tenure of BSE's current CEO Ashishkumar Chauhan will come to an end on November 17, 2022.

Established in 1875, BSE is the first listed stock exchange of India. The bourse is seeking a "result-oriented leader with the highest ethical standards".

The candidate should have an excellent understanding of the financial markets, technology and operations, reads the advertisement, adding that the person should be a market savvy leader with an entrepreneurial approach and an innovative bent of mind to drive business in a closely supervised and regulated ecosystem.

Listing out the educational eligibility, the bourse said candidates should be well qualified (CA/MBA/LLB/B.Tech) or hold equivalent degrees from reputed institutions.

The compensation and prerequisites will be in accordance with industry standards, it said.

Global management consulting and executive search firm Egon Zehnder is assisting BSE find its next chief. The last date to apply is April 23.

This comes weeks after India's largest bourse, the National Stock Exchange (NSE) invited applications for a new managing director and chief executive officer amid allegations of governance lapses under its former MD and CEO Chitra Ramkrishna.

In a newspaper advertisement, the world's largest derivatives exchange by volume specified that the candidates must have over 25 years of work experience and a "track record of strengthening corporate governance".

Following the Chitra fiasco, the exchange is seeking applications from candidates with "highest ethical standards" having a track record of "enterprise risk management".

The five-year term of NSE's current chief executive, Vikram Limaye, ends in July. The world's largest derivatives exchange by volume specified that the candidates must have over 25 years of work experience and a "track record of strengthening corporate governance".