Securities and Exchange Board of India (Sebi) board has decided to make provision for separation of the roles of chairperson and MD/CEO as ‘voluntary’ against ‘mandatory’ earlier. The market regulator had in June 2017 set up a committee on corporate governance under Uday Kotak with a view to seek recommendations to further enhance corporate governance norms for listed companies.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
One of the recommendations that the Committee came out with was the separation of the roles of chairperson and MD/CEO of listed companies. This was proposed to provide a better and more balanced governance structure by enabling more effective and objective supervision of the management. The Sebi board, in its meeting in March 2018 approved the proposal for the top 500-listed entities. Later the deadline for compliance was extended by two years in January 2020.
Important takeaways for all competitive exams:
President of Uber India and South Asia, Prabhjeet Singh has resigned after completing a decade-long…
India has launched Operation Amistad to support Venezuela after devastating earthquake that caused the extensive…
Odisha has unveiled the GO-EAST (Government of Odisha Eastern Investment Accelerator and Special Task Force)…
Large coastlines are beneficial for any nation's growth. As the coastline connects the land with…
India held its first mango production events in the Nordic region and it organized by…
India and Pakistan are two neighboring South Asian countries with shared history but significantly different…