Hyderabad: Mr Rajat Gupta, former McKinsey & Co chief, accused of insider trading in the US, has resigned from the chairmanship of Indian School of Business, a Hyderabad-based B-School, today.
Putting an end to the speculation that loomed large over the issue of his resignation, the ISB confirmed his resignation and is on the lookout for a new chairman for the executive committee of the board.
"Mr 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.
"This, and the appointment of the new chairman, will be tabled at the upcoming board meeting on April 2, 2011," an ISB spokesperson said.
Mr Gupta, who is the co-founder of ISB, may not attend the upcoming board meeting scheduled for April 2, sources said.
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