MUMBAI: Yes Bank’s non-executive chairman Ashok Chawla resigned from his post on Wednesday with immediate effect, stating that the bank needed someone who could devote more time to the bank. “Yes Bank announces that Shri Ashok Chawla, Non-Executive Independent Part-Time Chairman, has 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 said in a regulatory filing.
The Reserve Bank has already asked the private sector bank to find a replacement for founder MD and CEO Rana Kapoor by January 31, with the bank stating last month that it has finalised a potential candidate profile.
The bank said that it would announce the appointment of a new chairman in “due course” post RBI’s approval. In tandem, the bank also announced that Independent Director Vasant Gujarathi too has tendered his resignation with immediate effect due to personal commitments.