Axis Bank shortlists 3 candidates to succeed MD & CEO Shikha Sharma; her term expires in December 2018

New Delhi: Axis Bank on Tuesday said it has shortlisted three candidates to succeed the Managing Director and Chief Executive Officer CEO Shikha Sharma, whose term is due to expire in December this year. The bank, however, did not disclose names of the candidates shortlisted for the post.In terms of extant Reserve Bank of India (RBI) norms and the succession planning process of the bank, the Board of Directors of the bank at its meeting held on 9 July 2018, has recommended the names of three candidates, in order of preference, for the approval of the RBI, Axis Bank said in a regulatory filing.

"The candidate as approved by the RBI, will succeed Shikha Sharma, whose term as the Managing Director and CEO of the Bank, is due to expire on 31 December 2018," the bank said.

Axis Bank will be submitting its application in respect of the recommendations relating to the said appointment, for the approval of the RBI, it added further.[caption id="attachment_4425183" align="alignleft" width="380"] File photo of Shikha Sharma, MD, and CEO, Axis Bank. Pic courtesy: Axis Bank's website.[/caption]Earlier in April, the bank CEO had wanted her new term to be reduced to seven months from three-year tenure, which was accepted by the bank board subsequently.Sharma had completed her third term as MD and CEO of Axis Bank on 31 May. However, she had not intimated the reason for an early exit from the bank.The bank board had decided to reappoint her as the MD and CEO for a period of three years with effect from 1 June 2018.