Banking | RBI clears appointment of new Axis Bank chief

Banking | RBI clears appointment of new Axis Bank chief
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First Published: Sat, May 23 2009. 12 31 AM IST
Updated: Sat, May 23 2009. 12 31 AM IST
Mumbai: The Reserve Bank of India on Friday cleared the appointment of Shikha Sharma as the managing director and chief executive officer of Axis Bank Ltd. Sharma, former head of ICICI Prudential Life Insurance Co. Ltd, is expected to take charge on 1 June.
“Sharma will assume charge on 1 June if all procedural formalities are complete,” said a senior Axis Bank official, who did not want to be identified.
The eight-member board of Axis Bank on 20 April picked Sharma to succeed P.J. Nayak whose term was to end 31 July. Nayak, who had been pushing for an internal candidate, Hemant Kaul, the bank’s executive director and head of retail business, resigned immediately in protest.
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First Published: Sat, May 23 2009. 12 31 AM IST