Yes Bank Ltd.'s founder and chief executive officer Rana Kapoor, who has been asked by the Reserve Bank of India to quit the post by January, today said that he will not sell his shares in the bank even after demitting office.
In a series of tweets, he talked about never selling his shares, and bequeathing them to his daughters.
In this leadership transition at @YESBANK, I continue to remain fully committed to the interests of the Bank and all its stakeholders. I will be fully guided by the Board of Directors of YES BANK and the Reserve Bank of India
I will eventually bequeath my @YESBANK Promoter shares to my 3 daughters and subsequently to their children, with a request in my Will stating not to sell a single share, as Diamonds are Forever!!
Diamonds are Forever: My Promoter shares of @YESBANK are invaluable to me
Rana Kapoor along with his brother-in-law Ashok Kapur, had founded the bank in 2004. The Reserve Bank of India had recently asked Rana Kapoor to quit the post by January 2019.
The bank's board, however, has sought more time from the regulator till September 2019 for a suitable successor. Kapoor holds 10.66 percent shares in the bank.
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