SEBI tells listed cos to split CMD post
The SEBI has asked listed companies to split the post of chairman and managing director by April 2020. It has also made it compulsory for them to have six independent directors on board, including a women director. The changes, which were first recommended by Kotak Bank chief Uday Kotak-led committee on corporate governance seven months ago, have now been accepted and notified by the SEBI. It has also asked the top-100 listed companies to webcast annual general meetings. The deadline for independent directors and other rules is April 1, 2019, a circular issued by the markets regulator has said.