BSE Ltd. has opened a search for a managing director and chief executive officer as incumbent Sundararaman Ramamurthy nears an age-based departure date in June 2027.
The exchange linked to a recruitment notice in an Oct. 22 post. BSE’s filing says Ramamurthy’s five-year appointment took effect Jan. 4, 2023, but ends earlier if he reaches 65. The exchange’s shareholder notice lists his birth date as June 15, 1962, making June 15, 2027, the age-based end date under those terms.
The sources reviewed did not identify a successor or shortlist. BSE’s appointment filing also says Ramamurthy spent more than 20 years at the National Stock Exchange of India before serving as managing director and chief operating officer of Bank of America’s Indian arm.
The Securities and Exchange Board of India (SEBI) must approve managing director appointments at recognized stock exchanges. Its rules require a new appointment process after an initial term and limit each term to five years. Total time in the role is capped at 10 years, subject to the age-65 ceiling.
The consolidated regulations set an overall 10-year limit, replacing older wording about two terms of up to five years each. An August 2023 amendment changed that wording without changing the total-service cap.
ANI reported that applications are due Nov. 18 at 11:30 p.m. ET (04:30 UTC Nov. 19), equivalent to 10 a.m. IST on Nov. 19.
