Axis Bank’s CEO seeks shorter term, to step down in December

Axis Bank’s CEO seeks shorter term, to step down in December
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New Delhi [India]: Axis Bank’s CEO Shikha Sharma will exit the bank on December 31, 2018, after the bank reduced her term to six months from three years at her request.

Sharma has been at the bank’s helm since June 2009.

Her re-appointment as the managing director and CEO of the bank was revised from June 1, 2018, up to December 31, 2018, moneycontrol confirmed.

“Kindly note that Shikha Sharma, managing director and 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 be revised from 1st June 2018 up to 31st December 2018,” moneycontrol quoted a statement from the bank.

On December 8, 2017, the board had informed of its decision to re-appoint Sharma as the MD and CEO, for a period of three years with effect from June 1, 2018.

The move comes amid controversy surrounding Sharma’s tenure and in the wake of mounting non-performing assets (NPA) in the bank. (ANI)