Race for NEPSE Top Job Narrows: Four Candidates Shortlisted for CEO

KATHMANDU: In a decisive step toward filling a critical leadership vacuum at the country’s sole secondary market, the Ministry of Finance has narrowed the race for the Chief Executive Officer (CEO) of the Nepal Stock Exchange (NEPSE). Out of eight initial hopefuls, four candidates have been officially shortlisted for the final evaluation phase, signaling an imminent transition at the helm of Nepal's capital market operations.

The CEO Selection and Recommendation Committee, spearheaded by Joint Secretary Mahesh Acharya, released the closely watched shortlist this week. The final four executives vying for the coveted position are Anil Raj Poudel, Nawaraj Sapkota, Narayan Prasad Sapkota, and Pratap Subedi. This screening effectively eliminates half of the applicant pool who had submitted their credentials following the initial vacancy announcement in late July.

The true litmus test for these four candidates will take place on Ashwin 23 (October 9), when they are required to present their strategic vision for the stock exchange and face a rigorous interview panel at the Ministry of Finance. The committee has outlined a strict, split-shift schedule for the evaluations: Poudel and Nawaraj Sapkota will take the morning slots at 7:00 AM and 8:00 AM, respectively, while Narayan Prasad Sapkota and Subedi will face the panel in the evening, starting at 5:30 PM. Demonstrating a tight adherence to bureaucratic decorum, the committee has mandated all candidates to report to the venue at least half an hour before their scheduled times.

However, proving one's technical competence before the committee is only a fraction of the battle; the final appointment in Nepal's financial sector is inherently political. Following the presentations, the Acharya-led committee will not directly appoint the CEO. Instead, it will filter the shortlist down to a top-three roster and forward it to the Finance Ministry. The Ministry will subsequently table these names before the Council of Ministers. Ultimately, the Cabinet will exercise its executive privilege to handpick the new NEPSE chief, a process that highlights the deep intertwining of the country's financial institutions with its political leadership.

The urgency to install a new chief at NEPSE stems from the abrupt departure of its former CEO, Chudamani Chapagain. Originally appointed by the erstwhile government, Chapagain cut his tenure short by tendering his resignation on Asar 22 (early July) long before his term was set to expire. His premature exit has left the stock exchange navigating a crucial period without a permanent captain. The incoming CEO will inherit not just an empty chair, but the heavy responsibility of driving much-needed digital reforms, modernizing trading infrastructure, and restoring investor confidence in an often volatile market.