YES Bank up 6% on appointment of advisory firm Korn Ferry to find new CEO

The stock was up 6% to Rs 255 on the BSE in early morning trade, rallying 24% thus far in the current week as compared to 0.92% rise in the S&P BSE Sensex.

Shares of YES Bank have rallied 6% to Rs 255 on the BSE in early morning trade after the private sector lender appointed US-based headhunter Korn Ferry to assist the bank’s committee in its selection of the new managing director & chief executive officer (MD & CEO).

The bank had announced that it would find a successor to MD & CEO Rana Kapoor whose term was cut short by the Reserve Bank of India (RBI).

The advisory firm was appointed in a meeting held on Thursday. The meeting was attended by all members of the “Search and Selection”