MUMBAI: The NCDEX board has extended the term of its MD & CEO Samir Shah by only six months against the expected one year after SEBI directed the exchange to follow the governance norms laid down by it for appointment to the top official's post. "In keeping with these norms, we have issued an open advertisement for the post, for which Shah is eligible to apply. The ad looks for a candidate with minimum 20 years experience in sales, operations or management and one with "good understanding" of commodities /commodities markets.Shah became the MD & CEO of NCDEX on August 20, 2013. His term has been renewed for six months through February.Asked whether he would apply for the post once his term ends, Shah declined to comment. This, along with a fall in commodity prices, has taken a toll on exchange turnover, which Shah has been at pains to increase.

Source: Economic Times August 15, 2017 09:45 UTC