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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 person aware of the details.

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.

The appointment is subject to approval of NSE shareholders, the person quoted earlier said on the condition of anonymity as the information is not public yet.

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, said two people aware of the development. They didn’t want to be identified as details are not public yet.

Like Limaye, Chauhan’s challenge will be 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. He later turned out to be former NSE Group Operating Officer Anand Subramanian hired at a disproportionately high salary.

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





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