SEBI makes provision of separation of chairperson & MD/CEO roles voluntary

SEBI makes provision of separation of chairperson & MD/CEO roles voluntary

Daily Current Affairs / SEBI makes provision of separation of chairperson & MD/CEO roles voluntary

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Category : Business and economics Published on: February 18 2022

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Securities and Exchange Board of India (SEBI) changed the requirements for listed companies to separate roles of chairperson and managing director (MD) or chief executive officer (CEO) to ‘voluntary’ from ‘mandatory’.
Earlier the market regulator had asked the top 500 listed companies to split the role of chairperson and MD or CEO before April 2022.
Now with less than 2 months for this deadline, SEBI has revised its guidelines and changed this instruction from mandatory to voluntary.
i.e If a company wants it can keep the role of Chairperson and MD/CEO separate. i.e. now it is their voluntary decision. Earlier this was to be followed mandatorily.

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