Axis Bank CEO Shikha Sharma Seeks to End Tenure by December 2018
Sharma's fourth tenure, beginning on June 1, 2018, was scheduled to end in 2021. However, the top banker wants to end her reign by December-end this year.
Mumbai, April 9: Axis Bank CEO Shikha Sharma has appealed the bank to reconsider the period of her next tenure, slated to begin from June 1, 2018. The top banker has sought to cut short her term by December 31, 2018, instead of continuing on the post for another three years, reports said on Monday.
The Axis Bank board has accepted the request of Sharma and asked the Reserve Bank of India (RBI) to give its approval. The process to appoint a new CEO from January 2019 will be initiated by the bank in the next few weeks.
Sharma, who has remained at the helm of Axis Bank since the past eight years, was provided an extension by the bank till 2021 in the board meeting held on July 27, 2017.
Her tenure as the Axis Bank CEO has received applaud from analysts as she played a vital role in improving the corporate image. During her reign, the bank not only emerged as among the leading private lenders in the retail sector, but also made key acquisitions to expand its footprint.
On the day the bank made the news public, its stocks witnessed a healthy surge of 3.4 percent, valuing Rs 517.90 at the Bombay Stock Exchange.
(The above story first appeared on LatestLY on Apr 09, 2018 08:37 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).