Axis Bank shortlists three for MD and CEO

Submits names to RBI for approval

Axis Bank has submitted names of three candidates, in the order of preference, for the post of MD and CEO to RBI for approval.

In April, the bank’s current MD and CEO Shikha Sharma decided to step down on December 31. This prompted the lender to to search for a new chief executive.

“In terms of extant RBI norms and the Succession Planning Process of the Bank, the Board of Directors of the Bank at its meeting held on 9th July 2018, has recommended the names of three candidates, in order of preference, for the approval of the RBI,” the bank informed the exchanges.

“The candidate as approved by the RBI, will succeed Smt. Shikha Sharma, whose term as the Managing Director & CEO of the Bank, is due to expire on 31st December 2018,” it added.

Some of the names doing the rounds are P.S. Jayakumar, MD and CEO of Bank of Baroda, Pramit Jhaveri, CEO, Citi India, Standard Chartered India CEO Zarin Daruwalla and Shirish Apte, former chairman Asia Pacific at Citibank.