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Axis Bank Reappoints Shikha Sharma as MD and CEO for 3 More Years

In a regulatory filing on BSE, Axis Bank confirmed that Shikha Sharma will stay in charge till 2021, putting an end to all speculation of her exit.

Updated:July 27, 2017, 5:05 PM IST
Axis Bank Reappoints Shikha Sharma as MD and CEO for 3 More Years
Shikha Sharma will remain the MD and CEO of Axis Bank till 2021. (PTI photo)
New Delhi: Axis Bank on Thursday confirmed the re-appointment of Shikha Sharma as managing director and CEO for a period of three years starting June 2018, putting an end to all speculation of her exit, Moneycontrol reported.

“The Board of Directors at its meeting held on 26th July 2017, approved the re-appointment of Smt. Shikha Sharma as the Managing Director & CEO of the Bank for a period of 3 years, w.e.f. 1st June 2018, subject to compliance with the prescribed formalities and receipt of requisite regulatory/ statutory approvals,” the bank said in a regulatory filing on BSE.

Sharma’s term was set to end in June 2018, and by clearing the reappointment a year earlier, the Axis Bank is attempting to quell any uncertainty about its leadership.

Earlier this week, news reports said she had been sounded out by Tata Sons chairman N Chandrasekaran to head the diversified conglomerate’s financial services vertical. There were also reports that the Axis Bank had hired a headhunting agency to appoint its next CEO.

“The appointment of a search firm is in the interest of best governance, given that I'd have done nine years in 2018 with the bank and it does not preclude anything about whether I will do another term or not,” she clarified while announcing the acquisition of Freecharge for Rs 395 crore.

Sharma said that right now, her focus in on building the bank. "We believe that Axis Bank has created some very strong capability in it, we have a strong brand which all customer surveys suggest people who experienced it have liked it. So I think there are lots of exciting things to do in the bank,” she said.

The 59-year-old Sharma is serving the second term that comes to an end in June 2018. She joined the bank in 2009 with a five-year mandate which was subsequently extended.
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