NYSE MD Kannan offered BSE top job

The Bombay Stock Exchange (BSE) has offered New York Stock Exchange (NYSE) managing director Madhu Kannan, the post of chief executive officer (CEO). Kanan has been asked to reply before September 13, 2004.

A BSE official spokesperson said, "There is an independent committee which is looking for the replacement for (outgoing CEO) Manoj Vaish and there is nothing for the exchange to comment."

Business Standard had earlier reported that the exchange has received more than 100 applications for the post of executive director and CEO.

According to sources, seven to eight individuals have been shortlisted and the final selection is expected by September 15.

The selection committee comprises senior Securities and Exchange Board of India official Jagdish Capoor; HDFC chairman Deepak Parekh; State Bank of India chairman A K Purwar; and Life Insurance Corporation of India chairman S B Mathur.

According to sources in the know, the shortlist includes a senior Unit Trust of India official, a senior official of the Inter Connected Stock Exchange and three senior BSE executives.