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Khushboo Sharma

IWB Blogger

Managing Director and CEO Of Axis Bank, Shikha Sharma, Seeks Her 4th Term To Be Curtailed

  • IWB Post
  •  April 10, 2018

Shikha Sharma, Axis Bank’s Managing Director and CEO, in a surprising move has requested the bank’s board to shorten her new term to seven months.

Since 2009, Shikha has been serving as the CEO of the bank which happens to be the third-biggest private sector Indian lender. On May 31, she would be completing her 3rd term as the MD and CEO of Axis Bank.

Incidentally, it was last year on December 8 when the board had made the decision to reappoint Sharma. The appointment was to be extended for a period of 3 years with effect from June 1, 2018. The Reserve Bank of India’s approval on the re-appointment was however still pending.

The filing didn’t specify the reason behind the request of the curtailment of Sharma’s fourth term. The filing however said that the curtailment request has been “accepted” by the Board, provided that it is approved by the RBI.

As per a report by The Times of India, the bank stated, “In this connection kindly note that Smt Shikha Sharma, Managing Director & CEO of the Bank has requested the Board to reconsider the period of her re-appointment as the Managing Director and CEO of the Bank to be revised from June 1, 2018 up to December 31, 2018.”

H/T: The Times of India

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