NEW DELHI: Bank of Baroda on Wednesday said financial, administrative and other functions of its MD & CEO is to be looked after by respective executive directors till the appointment of new head. PS Jayakumar ceased to be the bank's MD & CEO with effect from October 12, 2019 upon expiry of his term.
The bank's board of directors and the management committee, as the case may be, may entrust to look after financial and administrative powers and functions of the MD & CEO to respective executive directors till such time appointment to the post of the bank's MD & CEO is made by the government, it said in a regulatory filing.
"Accordingly, the board through circulation on October 16, 2019 approved that the financial and administrative powers and functions of the MD & CEO shall be exercised by the respective Executive Directors pertaining to the verticals in which they are in-charge," it said.
The government has already invited application through the Banks Board Bureau (BBB) to fill the vacancy. Also, the top post is vacant at Bank of India, for which BBB has already invited applications. Bank of Baroda has currently three executive directors -- Murali Ramaswami, SL Jain and Vikramaditya Singh Khichi.