APPOINTMENT OF MD & CEO

1 Jun 2009 08:27

APPOINTMENT OF SMT. SHIKHA SHARMA AS MANAGING DIRECTOR AND CEO

The Board of Directors of Axis Bank at its meeting held today inducted Smt. Shikha Sharma as an Additional Director of the Bank.

The shareholders of the Bank have at the Annual General Meeting held today approved the alteration to the Articles of Association of the Bank in respect of separation of the post of Chairman and CEO into separate posts of i) Non- Executive Chairman and ii) Managing Director to be effective from 1st June, 2009 instead of 1st August, 2009.

Consequent to the approval of the shareholders, Smt. Shikha Sharma has taken over as the Managing Director and CEO of the Bank with immediate effect.

 A copy of Press Release is enclosed.

Press announcement 

We are pleased to inform that Smt. Shikha Sharma has today taken over as the Managing Director and CEO of the Bank.

In a career spanning 29 years, Shikha Sharma has had a wide exposure across the entire spectrum of financial services and has held several leadership positions across various market leading businesses. In 2000 she became the Managing Director & founder CEO of ICICI Prudential Life Insurance Company. Under her leadership the company consistently retained its No 1. position in the highly competitive insurance landscape. She is 50 years of age.

Dr. Patil, Chairman of the Nominations Committee stated "We are delighted to have Smt. Sharma join Axis Bank as the Managing Director and CEO. We believe she brings considerable knowledge of the corporate and financial sector which would benefit the bank. The Board is confident that under her leadership, the bank will achieve even greater heights."

When contacted Smt. Sharma said, "I am honoured that the Board has entrusted me with the responsibility of leading Axis Bank and am delighted at the opportunity. Dr. Nayak has left behind a Bank, which is a very well respected, with a strong lineage and an exciting future. It will be a privilege to work with the very eminent Board of the Bank and the management team to lead Axis into its next stage of development. "