IndusInd set to name search firm to look for a new CEO

RBI has reportedly asked CEO, his deputy to step down as soon as replacements are found

- Devina Sengupta, Shayan Ghosh & Gopika Gopakumar

The board of IndusInd Bank is expected to appoint a search firm to look for a new chief executive officer even as it awaits an audit report on accounting lapses.

Some of India's top executive search firms told Mint that they are scouting for the mandate and have even received calls from senior banking sector officials to be in the race for the top job. A person aware of the development said that IndusInd Bank's board of directors recently met and decided to appoint a search firm this week to kickstart the process of hiring its new chief executive officer (CEO).

The Reserve Bank of India (RBI) has asked the bank's board of directors to send a list of external candidates to choose the bank's next CEO, according to reports. Bank boards usually send the list of candidates about six months before the incumbent's term ends.