Mr. Ravi Narain is presently on the Board of NSE as Managing Director & CEO and his current tenure will end on March 31, 2013. Mr. Ravi Narain was the Deputy MD of the NSE for the first 6 years, from the exchange's inception and the Managing Director and CEO for over 12 years.

"The Board had been engaged with Mr. Ravi Narain over a period of time regarding a further tenure. However, he has been indicating his inability to the Board to accept any further extension of his tenure.

The Board at its meeting today approved the appointment of Ms. Chitra Ramkrishna as MD and CEO (Designate). Ms. Chitra Ramkrishna will take charge as Managing Director & CEO with effect from April 1, 2013 for a period of five years. Ms. Chitra Ramkrishna has been with NSE since inception and currently serves as the Joint Managing Director. The Board also elected Mr. Ravi Narain as Vice Chairman (designate). The Vice-Chairmanship in non-executive capacity will be effective from April 1, 2013. In his capacity as Vice Chairman, he will continue on the Board of NSE," the NSE said in a release.

Mr. Ravi Narain will continue to serve on the Board of the World Federation of Exchanges and as Chairman of its Working Committee.

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