Ashok Chawla takes over as non-executive chairman of Yes Bank

Former finance secretary and Competition Commission of India Chairman Ashok Chawla has taken charge as Non-Executive Chairman of Yes Bank from Sunday.

Chawla took over after non-executive part-time Chairperson Radha Singh completed her tenure as the bank’s director, Yes Bank informed the stock exchanges.

“ furtherance to company’s letter dated August 22, 2016 intimating the receipt of approval of RBI for appointment of Ashok Chawla as Non-Executive Part-time Chairman of the Bank for a period of three years from the date of his taking charge,” Yes Bank Ltd said in a BSE filing today.

The bank further said, ”Ms Radha Singh, Non-Executive Part-time Chairperson of the Bank has completed her tenure as Non-Executive Part-time Chairperson of bank as on October 29, 2016 and accordingly ceases to be Director on the Board of the Bank at the close of business on October 29, 2016.”

A former IAS officer, Singh was non-independent director on the bank’s board since April 2008 and was appointed chairperson in 2014.

In March this year, Chawla was appointed additional non-executive director on the bank’s board. He was to be appointed as non-executive chairman of the bank after the end of Singh’s term, the bank had then informed the bourses.