Ashish Kumar Chauhan has resigned from the post of Managing Director and CEO of BSE and has been relieved of his roles and responsibilities in the exchange.

Chouhan will join rival National Stock Exchange (NSE) as Managing Director and Chief Executive Officer (CEO).

He was part of the founding team of NSE, but left it in 2000 for various roles in the Reliance Industries Group before returning to the stock exchange sector as the Deputy CEO of BSE in 2009 and again in 2012 as CEO.

BSE has started looking for a new head to replace Chauhan.

In the interim, the board of BSE has decided that an executive management committee of the exchange will run its affairs till the appointment of a new MD and CEO, it said in a regulatory filing to the NSE on Monday.

The executive management committee consists of Neeraj Kulshrestha – Chief Regulatory Officer, Nayan Mehta – Chief Financial Officer, Kercy Tawadia – Chief Information Officer, Sameer Patil – Chief Business Officer and Girish Joshi – Chief Business Operations and Listing Sales.

Chouhan has been relieved of roles and responsibilities in BSE with effect from July 25, 2022.

On BSE, Chauhan is credited with reviving its revenue, helping it become the world’s fastest exchange with a response time of 6 microseconds.

He introduced mobile stock trading in India, diversifying into new areas including currency, commodity and equity derivatives, SMEs, startups, mutual fund and insurance distribution, spot markets and power trading.

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