DSE CEO resigns

Express (September 09, 2011)

Dhaka Stock Exchange (DSE) Chief Executive Officer (CEO) Satipati Moitra Thursday resigned on health ground, officials said.

DSE President Md. Shakil Rizvi confirmed the news about Mr Satipati's resignation letter, which was accepted by DSE board on the same day.

Mr. Rizvi said the DSE board requested Mr. Moitra to carry on his job.

"But Mr. Moitra expressed his unwillingness to continue the job of DSE CEO. Before Eid-ul-Fitr, the CEO also wanted to resign on heath ground," Mr. Rizvi told the FE.

Another source said, Mr. Moitra’s resignation came following some bourse members ‘reservation’ about him.

However, the source specifically said nothing about the reservation against Mr Moitra.

The CEO was not available to make comment on his resignation.

In December 2010, Moitra resigned from his post on health ground for the second time. However DSE board of directors made him agreed to continue his job.

According to competent sources, the then CEO's resignation came following criticism from different quarters about his inability to convince the people concerned on a number of sensitive issues involving the interests of the DSE members.

Then some DSE members criticised the CEO strongly following his alleged failure to convince the SEC to keep the member's margin deposit provision unchanged.

In November, 2010, DSE CEO had begged apology to the SEC for implementing some parameters for calculating the index despite receiving prior consent of the SEC for it.

After implementing the parameters, the CEO had duly informed the regulator about index calculation.