Shares of Yes Bank fell over 7 per cent Thursday after the private sector lender's non-executive chairman Ashok Chawla stepped down with immediate effect.
The shares settled 7.42 per cent lower at Rs 206 on the BSE. During the intra-day trade, it had plunged 9.07 per cent to a low of Rs 202.30.
On the NSE, the stock closed at Rs 205.90, down 7.42 per cent from the previous close. During the trading session, it had touched a low of Rs 202.25 and a high of Rs 217.95.
In a regulatory filing to the stock exchanges on Wednesday, Yes Bank announced that Chawla, non-executive independent part-time chairman, had tendered his resignation from the bank's board, with immediate effect, mentioning that during the current transition period, the bank would need a chairman who could devote more time and attention.
The bank further said it would announce the appointment of a new chairman in "due course" post RBI's approval.
The Reserve Bank has already asked the private sector bank to find replacement of founder MD and CEO by January 31.
Last month, Yes Bank had said the panel looking for a successor to MD and CEO Rana Kapoor has finalised the potential candidate profile.
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