As a Sebi panel on corporate governance mulls benefits of splitting posts of chairman and managing director at listed firms, the public sector units may be the first where such a move could be implemented.
While a final decision would be taken by capital market regulator Sebi with regard to listed companies, the public sector banks already have separate persons for the positions of chairman and MDs as per the decision taken by the government and the RBI.
Sebi rules require that the listed companies may voluntarily separate the two posts to avoid any conflict of interest, but the regulator has so far refrained from making it mandatory. Read More…
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