BSE managing director and CEO Rajnikant Patel resigns

08 August 2008

Mumbai: Rajnikant Patel has resigned as managing director and chief executive officer of the Bombay Stock Exchange (BSE), the bourse said in a press release.

BSE said the resignation has been due to personal reasons and BSE has accepted the resignation.

Mahesh L Soneji, chief operating officer of the exchange, will look after the interests of the exchange till a new appointment is made, the release said.

A few weeks ago, BSE board members Jamshyd Godrej and S M Dutta had also resigned.

The BSE governing board had appointed Rajnikant Patel, as executive director and chief executive officer of the stock exchange for a period of five years. Prior to his appointment Patel was the chief operating officer (COO) and member of the governing board of BSE.

Rajnikant Patel joined the BSE as director - surveillance and inspection in March 2001, and was elevated to the position of COO in May 2003 and was also given the additional responsibility as CFO.