SEBI Approves Praveena Rai as MCX's New Managing Director and CEO
| Aspect | Details |
|---|---|
| Event | Praveena Rai appointed as Managing Director and CEO of Multi Commodity Exchange (MCX) by SEBI. |
| Date of Announcement | Recent (specific date not provided). |
| Previous Position | Chief Operating Officer (COO) at National Payments Corporation of India (NPCI). |
| Experience | Over 20 years in payments and banking, including roles at Kotak Mahindra Bank, HSBC, and Citi. |
| Previous CEO | PS Reddy, whose five-year term ended on May 9, 2024. |
| Vacancy Duration | Three months. |
| Interim Management | Special executive committee managed operations post PS Reddy's departure. |
| Financial Performance | Q1 FY25 net profit: ₹110.9 crore, a 26.2% sequential increase from ₹87.9 crore in Q4 FY24. |
| Share Price | Closed at ₹4,205 on the announcement day, down by 1.94%. |
| Next Steps | Pending Rai's acceptance and shareholder approval. |