On Saturday, Axis bank appointed Amitabh Chaudhry has the new Managing Director and CEO.
54-year-old Amitabh will take charge from January 1, 2019. He will be succeeding Shikha Sharma, whose term ends on December 31.
In a filing to the BSE, Axis band said, ‘ We wish to inform you that the Board of Directors (the Board) of the Bank at its meeting held today has taken on record the approval granted by the Reserve Bank of India (RBI) to the appointment of Shri Amitabh Chaudhry as the Managing Director & CEO of the Bank, for a period of 3 years, with effect from 1 January, 2019 up to 31 December, 2021 (both days inclusive) and the terms and conditions relating to the said appointment, including remuneration.’
Chaudhry is currently the MD and CEO of HDFC Life. He has been associated with Standard Life since 2010. Chaudhry is an engineering graduate from the Birla Institute of Technology & Science (BITS) Pilani and an alumnus of IIM Ahmedabad.
In April, the bank on Sharma’s requested reconsider the period of her re-appointment to be revised from June 1 to December 31.
In July 2017, the Axis Bank board had approved re-appointment of Ms. Sharma. Her fourth term as MD & CEO began from June 2018.