Amitabh Chaudhry to replace Shikha Sharma as CEO of Axis Bank

Chaudhry stepped down from the post of managing director and CEO of HDFC Life Insurance on Saturday. Speculations of him heading the Axis Bank emerged after he offloaded shares worth Rs 55.77 crore between April and August this year.

By BusinessToday.In  
Saturday, September 8, 2018

Amitabh Chaudhry of HDFC Life has been appointed as the Chief Executive Officer of Axis Bank. He will assume office after Shikha Sharma completes her tenure as the Axis Bank CEO.

"We wish to inform you that the Board of Directors (the Board) of the Bank at its meeting held today has taken on record the approval granted by the Reserve Bank of India (RBI) to the appointment of Shri Amitabh Chaudhry as the Managing Director & CEO of the Bank for a period of 3 years with effect from 1st January 2019 up to 31st December 2021 (both days inclusive) and the terms and conditions relating to the said appointment, including remuneration," Axis Bank said in a regulatory filing today.

Chaudhry was working as the managing director and CEO of HDFC Life Insurance. He has tendered his resignation from the post on Saturday. Speculations of him heading the Axis Bank emerged after he offloaded shares worth Rs 55.77 crore between April and August this year.

Chaudhry, 54, started his corporate banking career with Bank of America in 1987, where he worked in diverse roles ranging from Country Finance Officer, Head of Wholesale and GCMG Finance in Asia Division and thereafter as Managing Director and Head Technology Investment Banking, Asia. He was also associated with Calyon Bank as its Managing Director, Head South East Asian Investment Banking and Head Technology Investment Banking.

Before joining HDFC Life, Chaudhry has worked with Infosys BPO Ltd in 2003 and was elevated as its Managing Director and CEO in 2006. He was also Head - Independent Validation & Testing Unit (IVS) of lnfosys Technologies Ltd.

Chaudhry is a BTech in (Electronic & Electricals) from the Birla Institute of Technology and Science, Pilani and is an alumnus of Indian Institute of Management, Ahmedabad.

Related Stories

CIC pulls up Reserve Bank of India for non-disclosure of demonetisation records
CIC pulls up Reserve Bank of India for non-disclosure of demonetisation records
SBI, ICICI Bank or HDFC Bank customer? Take this advisory from banks very seriously
SBI, ICICI Bank or HDFC Bank customer? Take this advisory from banks very seriously
RBI clears Yes Bank of any disparity in reporting of bad loan data
RBI clears Yes Bank of any disparity in reporting of bad loan data

Latest Stories

Reliance Power promoters aim Rs 2,500 crore from stake sale
Reliance Power promoters aim Rs 2,500 crore from stake sale
Redmi Note 7 with in-display fingerprint scanner, 48MP camera to launch on February 28
Redmi Note 7 with in-display fingerprint scanner, 48MP camera to launch on February 28
NSEL scam: Parent 63 Moons to slap Rs 10,000 crore damage suits on P Chidambaram, 2 others
NSEL scam: Parent 63 Moons to slap Rs 10,000 crore damage suits on P Chidambaram, 2 others
SPONSORED