Rana Kapoor says no plan to join YES Bank board, backs top team
Many board members found this demand unreasonable leading to tension within the board.Kapoor denied this in his tweets. "Some media reports have suggested that I am attempting a comeback to the Board, inspite of my unequivocal denial to them. I re-iterate that I have fullest confidence and conviction in the management under Shri Ravneet GillтАЩs leadership and Board of Directors.Yes Bank is an embodiment of Indian professional entrepreneurship and ongoing тАШHanumanianтАЩ efforts will overcome this transitional phase," Kapoor said. "The leadership team, MD & CEO Ravneet Gill and Board of Directors have my fullest support," Kapoor said.Kapoor's comments come amidst two board resignations earlier this week. Mukesh Sabharwal, chairman of the nomination and remuneration committee, quit on Tuesday following former interim CEO Ajai Kumar who had quit on Monday.Yes Bank shares have dropped 33% since January against a 9.9% rise in the benchmark Sensex.
Source: Economic Times June 13, 2019 09:02 UTC
