ISB News | Indian School of Business Chairman Rajat Gupta Quits | New head appointment on 2nd April
Hyderabad, March 20: Rajat Gupat, facing US Securities Exchange Commission probe on alleged involvement of insider trading, that rocked many global financial firms and US stock markets today resigned from the chairmanship of prestigious Indian School of Business.
“Rajat Gupta has requested the ISB Executive Board to relieve him of his Board responsibilities till his pending matter with the US SEC is resolved,” an update from ISB confirmed the development.
The appointment of the new Chairman, will be tabled at the upcoming Board meeting if ISB, on April 2nd, 2011, the business school said.
Gupta was on the chairman seat of this Hyderabad based global business school since a long time and speculations were taking rounds on his exit after the scam broke out.