SEBI Approves Ashishkumar Chauhan As NSE's Next CEO

The market regulator has approved the name of Ashishkumar Chauhan as the next managing director and chief executive officer of the country's largest stock exchange, National Stock Exchange of India Ltd., according to a statement issued by the stock exchange.

Chauhan is MD & CEO at BSE Ltd., India's oldest stock exchange, and his tenure ends in November. He was part of the core team that started NSE in 1993. Chauhan succeeds Vikram Limaye whose term ended on July 16.

The appointment is subject to approval of NSE shareholders, the statement said.

The board of NSE, meanwhile, has appointed an interim committee to run the day-to-day affairs of the exchange till the new CEO takes charge, the exchange said in a statement.

The interim committee comprises:

• Yatrik Vin, group CFO & head of corporate affairs.

• Priya Subbaraman, chief regulatory officer.

• Soma Sundaram KS, chief enterprise risk & information security officer.

• Shivkumar Bhasin, chief technology and operations officer.

The NSE didn't immediately respond to BQ Prime's emailed queries.

Like Limaye, Chauhan's will be expected to lead the exchange out of its controversies stemming from former CEO Chitra Ramakrishna’s tenure. She, along with others, is facing investigation over providing preferential access to brokers and misconduct in running the exchange under the guidance of a mysterious yogi.

Limaye parted as the spotlight on governance issues continues even as his tenure saw revenue and profit surge. More importantly, the exchange has started bringing back volumes of offshore Nifty derivatives back to India through the international financial hub in Gujarat.