NEW DELHI: Having worked with the National Stock Exchange for twenty-four years, Chitra Ramkrishna on Friday has stepped down as the Managing Director and Chief Executive Officer, citing personal reasons.
NSE said J Ravichandran, currently serving as Group President at NSE, would replace Ramkrishna and run the affairs of the bourse in the interim period.
While there was no official word, sources said Ramkrishna has offered to quit with immediate effect months ahead of its proposed IPO despite requests by the NSE board to stay for some more time for transition. Her tenure was scheduled to end in March 2018. However, the stock exchange would soon begin selection of a new CEO.
Ramakrishna’s exit also comes at a time when NSE has been in focus over a new regulatory framework for high frequency trades and co-location facilities, which some believe give undue advantage to some brokers and traders. NSE’s initial public offer is being keenly awaited in the market as one of the biggest IPOs in recent times. Rival BSE is also in the process of launching its initial share sale.