Chitra Ramkrishna quits as CEO and MD of NSE

Chitra Ramkrishna, chief executive officer and managing director of the National Stock Exchange (NSE) and one of its founding members, resigned as CEO & MD of the country's largest stock exchange on Friday.

The CEO's resignation, coming weeks ahead of the NSE filing the draft prospectus for its public listing, has come as a shock to market watchers.

The board of NSE has appointed J Ravichandran, group president, to hold charge of the office of CEO with immediate effect.

Chitra Ramakrishna, 52, was among the few handpicked by NSE founder R H Patil, and IDBI chairman SS Nadkarni to set up the exchange in 1993.

As CEO of the bourse, she had ensured that NSE remained a market leader with an absolute hold on the equity market - controlling 85 per cent of the cash segment and 99 per cent of futures and options – and a 70 per cent share of the bond market.