July 11: The question that has been doing the rounds since quite a while runs thus: Who will succeed Shikha Sharma s Axis Bank CEO? It seems like the bank’s board is close to arriving at an answer.
The Axis Bank board is reported to have shortlisted the names of three candidates to succeed managing director (MD) and chief executive officer (CEO) Shikha Sharma once. Going by a notice filed with the bourses, Sharma will step down on 31 December 2018.
The three names will be shared, in order of preference, with the Reserve Bank of India for approval. The RBI will pick one among the three candidates shortlisted and thereby begin the process of appointing Shikha Sarma’s successor. As per the bank’s filing with the exchanges, it had entrusted the task of finding the candidates with leadership advisory firm Egon Zehnder.
However, the names of the three shortlisted candidates have not been made public. A Mint report suggested that the names being spoken about in banking and official circles include those of P.S. Jayakumar, MD and CEO of Bank of Baroda, and Pramit Jhaveri, CEO of Citibank India.
The succession process became imminent as Sharma had announced her decision to step down from the position of MD and CEO of the bank by the end of the year, in April this year. Sarma’s stepping down from the post came following the sharp hike in bad loans.