BSE CEO Madhu Kannan leaving to join Tata Sons

Mumbai: Madhu Kannan, chief executive officer of the Bombay Stock Exchange, is leaving Asia’s oldest stock exchange to join Tata Sons as group head of business development.

Tata Sons, which controls the salt-to-software Tata Group, India’s biggest business house, said in a statement that the 38-year-old Kannan will report to Deputy Chairman Cyrus Mistry, who is due to succeed Ratan Tata as chairman of the group at the end of this year.

Neither Kannan nor a spokesman at the Bombay Stock Exchange could immediately be reached for comment.

A senior official at the exchange, who declined to be identified, confirmed that Kannan had submitted his resignation and that a committee would be named to oversee the running of the exchange until a new chief executive is identified.

Reuters