Axis Bank board agrees to curtail Shikha Sharma's tenure as chief till Dec 2018
The Axis Bank board accepted her request for a shorter seven-month term (from June 1 to December 31, 2018), subject to the approval of the Reserve Bank of India (RBI), the bank said in a regulatory filing.
The Axis Bank board has curtailed the fourth term of its CEO and Managing Director Shikha Sharma to seven months following an unusual request from her that she be relieved on December 2018, 29 months ahead of the scheduled term.
The board's decision come amidst RBI raising questions over her re-appointment for the fourth term as MD and CEO of the third largest private sector lender in the wake of mounting non-performing assets (NPAs).
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