Ashishkumar Chauhan resigns as BSE CEO; the board will continue to lead for the time being

Ashishkumar Chauhan has resigned from his positions as the BSE’s managing director and CEO, and he is no longer accountable for his duties there.

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According to the bourse, Ashishkumar Chauhan has resigned from his positions as BSE’s managing director and CEO as well as his duties there.

Mr. Chauhan will take a position as Managing Director and CEO at the competing National Stock Exchange (NSE) (CEO).

He was a member of the NSE founding team but departed in 2000 to take on a number of positions with the Reliance Industries group. In 2009, he returned to the world of stock exchanges as the deputy CEO of the BSE, and in 2012, he was named CEO.

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In order to replace Mr. Chauhan, BSE has already started its search for a new CEO.

The executive management committee of the exchange will oversee operations until the new MD and CEO are named, the BSE board of directors determined, according to a regulatory filing to the NSE on Monday.

Chief Regulatory Officer Neeraj Kulshrestha, Chief Financial Officer Nayan Mehta, Chief Information Officer Kersi Tavadia, Chief Business Officer Sameer Patil, and Chief Trading Operations and Listing Sales Girish Joshi make up the executive management committee.

According to the statement, Mr. Chauhan has been released from his duties at BSE as of July 25, 2022.

Mr. Chauhan is credited with boosting BSE’s revenue and turning it into the exchange with the fastest reaction time in the world (6 microseconds).

He established mobile stock trading in India and expanded into other markets, such as spot markets, power trading, SMEs, startups, mutual fund and insurance distribution, and equities, commodity, and currency derivatives.