His appointment will be up to date of attaining the age of superannuation, December 31, 2022, or until further orders, whichever is earlier, it added
If the CEO or WTD is not a promoter or major shareholder of the bank, that person can continue for 15 years at the bank, after which he or she must step down.
To protect the existing CEO salary, banks have to raise the fixed part of remuneration, which negates the very purpose of the regulator