Sebi to hire two executive directors in 2014

Tags: News
Market regulator Sebi plans to initiate the process for recruiting to two posts of executive directors, which will fall vacant later this year.

The matter would be discussed in Sebi's board meeting tomorrow here, official sources said.

Two posts of executive directors will fall vacant in the second half of the year. The new directors would be recruited either on contract basis or on deputation.

One post will fall vacant on expiry of the tenure of J Ranganayukulu on August 11, 2014, while the other position will fall vacant on completion of the tenure of R K Padmanabhan on September 27, 2014.

The Securities and Exchange Board of India (SEBI) has proposed to initiate the recruitment drive to fill these vacancies.

These positions would be for a maxim period of three years.

There are seven sanctioned posts of executive directors, of which four have been filled through internal promotion and two through deputation and one on contract basis.

Sebi is likely to form a selection committee consisting of the Chairman, a whole time member, a board member and an external expert, representing the revered category. This committee will interview the shortlisted candidates.

An advertisement regarding this recruitment process will soon be published in leading newspapers. Besides, a detailed advertisement would also be uploaded on Sebi's website.

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