Ashishkumar Chauhan has resigned as Managing Director and CEO of BSE and has been relieved of his roles and responsibilities at the exchange, the bourse said. All set to return to the NSE after two decades, Chauhan will be joining rival National Stock Exchange (NSE) as Managing Director and Chief Executive Officer (CEO).
Last week, capital market regulator Securities and Exchange Board of India (Sebi) cleared a five-year term for Ashish Chauhan as managing director and chief executive officer, NSE. The appointment comes after Vikram Limaye’s term as managing director, and chief executive officer ended on 16 July, as he did not seek an extension despite being eligible for reappointment.
He was part of the founding team of NSE but left it in 2000 for various roles at Reliance Industries group, before returning to the stock exchange arena as deputy CEO of BSE in 2009 and then as CEO in 2012.
In the interim, the board of BSE has decided that an executive management committee of the exchange would be running its affairs till appointment of the new MD and CEO, it said in a regulatory filing to NSE on Monday. Chauhan has been relieved of the roles and responsibilities at BSE with effect from July 25, 2022, it said.
Chauhan is a mechanical engineer from IIT-Bombay and an alumnus of IIM Kolkata. He started working at the Industrial Development Bank of India (now IDBI Bank) in 1991. Chauhan is credited with modernizing financial derivatives in India and screen-based trading. He is one of the founding members of NSE, where he worked from 1992 to 2000.
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