New CEO of Yes Bank appointed; Q3 results scheduled for Saturday

Mumbai (IANS) The central government has appointed former SBI banker Prashant Kumar as the new Chief Executive Officer of the financially troubled Yes Bank.

Accordingly, the former Chief Financial Officer and Deputy Managing Director of
State Bank of India (SBI) will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday, a Finance Ministry notification said.

At present, office of the Administrator appointed by the RBI has taken the charge of the bank till the date of moratorium cessation.

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Apart from Kumar, Sunil Mehta, former Non-Executive Chairman of Punjab National Bank will take over as the Non-Executive Chairman of Yes Bank.

Other Board members include Mahesh Krishnamurthy and Atul Bheda, both as Non-Executive Directors.

Meanwhile, the financially stressed bank has rescheduled a presser it was supposed to have held after the declaration of Q3 results.

The results are expected to be released later on Saturday.

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