According to a statement released by YES BANK, R Chandrashekar has resigned from the post of independent director for personal reasons. This announcement follows the resignation of two other board members in a week after the bank’s Nomination and Remuneration Committee (NRC) started assessing the performance of all its members.
After the resignation was accepted, the bank released a statement which said, the NRC of the bank will be looking for a suitable replacement for Chandrashekar from the IT and cyber security field.
Chandrashekar was the former president of NASSCOM and former secretary for department of IT and Telecommunication. He is also a member of the technology advisory group.
On 14th November, Ashok Chawla, the bank’s non- executive chairman had resigned due to the conflict of interest after his name appeared in the Aircel- Maxis corruption case. On the same day, Vasanth Gujarathi, its audit committee head, had also stepped down over audit committee performance issues.
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