S Ramadorai retired on Tuesday as BSE Chairman and may be replaced by Public Interest Director Sudhakar Rao subject to Sebi’s approval. Rao is a retired IAS Officer of the 1973 batch and has previously held several positions in state and central governments. On retirement from the government service, he was appointed a Member of the Public Enterprises Selection Board (PESB) from which he resigned in 2010.
Ramadorai, formerly chief of the country’s biggest IT company TCS, was appointed as Public Interest Director and Chairman of the BSE’s Board in March 2010 and retired after serving BSE for six years.
Rao was earlier a Public Interest Director on the exchange. His appointment is subject to approval of Sebi, BSE said in a statement . Currently, there are five Public Interest Directors on the BSE’s Board, including eminent chartered accountant Sethurathnam Ravi who was appointed last month.
According to information available with BSE’s website, Rao is also an independent director on the boards of Indian Oil Corporation, CMC Ltd and L&T Infrastructure Development Projects Ltd.