ZeeBiz Exclusive: Sebi allows voluntary separation of Chairperson & MD posts of listed companies
Securities and Exchange Board of India (SEBI) has decided to drop the mandatory rule of splitting the Chairperson and Managing Director/Chief Executive Officer positions of listed companies. In a SEBI board meeting it was decided that the listed companies can now choose to keep Chairman and Managing Director positions simultaneously or separately for its top office bearer/s.
Finance Minister Nirmala Sitharaman had said the regulator should hear if Indian companies have a view on the matter even as she made it clear that she was not “giving a diktat”.