HDFC Group sees second high-profile exit after Sukthankar Ending speculation, Axis Bank said on Saturday that HDFC Life Insurance’s chief executive officer Amitabh Chaudhry will become the bank’s next managing director and chief executive officer. Axis Bank’s present MD & CEO Shikha Sharma had decided to step down from December 31, following which Axis’s board submitted three names for the post, in the order of preference, to the Reserve Bank of India (RBI) for its approval. “We wish to inform you that the Board of Directors of the bank at its meeting held [on Saturday] has taken on record the approval granted by RBI to the appointment of Shri Amitabh Chaudhry as the [MD & CEO] of the bank,” Axis Bank said in a filing with exchanges. Three-year term Mr. Chaudhry will have a three-year term starting from January 1, 2019. The board of Axis Bank will now convene a meeting to approve Mr. Chaudhry’s appointment. “I would like to thank the RBI and the Axis Bank board for the p...
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