RBL Bank to rope in EgonZehnder, NARCL chairman for CEO search

Private sector lender RBL Bank will rope in executive search firm EgonZehnder and Pradip Shah, Chairman, National Asset Reconstruction Company Ltd to select the lender's new full-time managing director and chief executive.

At present, Rajeev Ahuja, an executive director at bank, is acting as interim MD & CEO after Vishwavir Ahuja, proceeded on medical leave in December 2021. Reserve Bank of India has approved R Ahuja's appointment up to three months from December 25, 2021.

The lender's board of directors at its meeting (on January 15, 2022) has decided to associate with Pradip Shah as an external expert to work with the search committee of board, the bank said in a stock exchange filing.

The search panel comprises Manjeev Singh Puri, Chairman, Nomination and Remuneration Committee (NRC) and two other directors, Ishan Raina and Veena Mankar.

Further, the Board on the recommendation of the search committee, also approved EgonZehnder as the search firm for identifying suitable candidates for the post of MD & CEO in a timely manner.

RBI also appointed Yogesh Dayal, its chief general manager as an Additional Director on the board of RBL Bank, for two years till December 23, 2023 or till further orders, whichever is earlier.