Leading bourse NSE today said ChitraRamakrishna will become its Managing Director and CEO witheffect from April 1, 2013, while its current chief Ravi Narainwill assume the role of Vice-Chairman in a non-executive role.
At a meeting held here today, the board of National StockExchange (NSE) decided that Ramkrishna, currently Joint MD ofthe bourse, will take charge as MD and CEO with effect fromApril 1, 2013 for a period of five years.
Narain's current tenure as MD and CEO will end on March31, 2013. He was the Deputy MD of the NSE for the first sixyears from the exchanges inception and the MD and CEO forover 12 years.
Ramkrishna has also been with NSE since inception andcurrently serves as the Joint MD.
The exchange said that its board has held discussionswith Narain regarding a further tenure, but he has beenindicating his inability to accept any further extension ofhis tenure.
NSE said that Narain would become its Vice Chairman innon-executive capacity with effect from April 1, 2013. In hiscapacity as Vice Chairman, he will continue on the Board ofNSE. He would also continue to serve on the Board of the WorldFederation of Exchanges and as Chairman of its WorkingCommittee.
NSE is the country's largest exchange in terms ofturnover, although the number of listed companies is higher atits older rival BSE.
Earlier in September, NSE had said Vijay Kelkar hasstepped down as its Chairman. However, he would serve asChairman of the advisory board of NSE, the exchange had said.