YES Bank names experts to look for new managing director; stock falls 4.16%

Bank's stock has been falling drastically over uncertainty regarding its succession plan

Private lender YES Bank, which recently formed a committee to search for a successor to its managing director and chief executive officer Rana Kapoor, will have two external members in the panel — T S Vijayan, former chairman of the Insurance Regulatory and Development Authority of India and O P Bhatt, former chairman and managing director of State Bank of India.

The private bank disclosed this to the stock exchanges in a filing on Friday.

The committee also comprises three existing board members of the Nomination & Remuneration Committee — Brahm Dutt, chairman and independent director, Mukesh Sabharwal,