REG - Axis Bank Ltd - APPOINTMENT OF DIRECTOR

Axis BankAnnouncement

29/06/2020 16:35

RNS Number : 4260R
  
Axis Bank Limited
  
29 June 2020
  
 

AXIS/CO/CS/148/2020-21
 
29th June 2020
 
Dear Sir(s),
 
SUB.:    APPOINTMENT OF Shri T. C. Suseel Kumar AS Additional Non-Executive (Nominee) Director OF AXIS BANK LIMITED. 
REF:      REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015.
 
This is to inform you that the Board of Directors of the Bank, has today approved the appointment of Shri T.C. Suseel Kumar, Managing Director - Life Insurance Corporation of India, Promoter of the Bank, as the Additional Non-Executive (Nominee) Director of the Bank, with effect from 1st July 2020 and to hold office as such upto the date of the ensuing Annual General Meeting of the Bank, in terms of the relevant provisions of Sections 152 and 161 of the Companies Act, 2013, the Rules made thereunder and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The brief profile of Shri T.C. Suseel Kumar is enclosed herewith as Annexure A. 
 
The proposal relating to the appointment of Shri T.C. Suseel Kumar as the Additional Non-Executive (Nominee) Director of the Bank, will be subject to the approval of the Shareholders at the 26th Annual General Meeting of the Bank. During his tenure as the Non-Executive (Nominee) Director of the Bank, Shri T. C. Suseel Kumar shall be liable to retire by rotation, in terms of Section 152 of the Companies Act, 2013.
 
Further, please note that Shri T.C. Suseel Kumar is not related to any other Director or Key Managerial Personnel of the Bank.
 
You are requested to take note of above and arrange to bring it to the notice of all concerned. 
 
Thanking You.
 
Yours Sincerely,
For Axis Bank Limited
 
Sd/-
Girish V. Koliyote
Company Secretary
 
Encl: as above
 
 
Annexure A
 
Shri T.C. Suseel Kumar, 59 years, is Managing Director of Life Insurance Corporation (LIC) of India since March 2019. He has a Masters in Economics, is a university rank holder and has completed various management and leadership courses, including from IIM Ahmedabad, IIM Bangalore, IIM Lucknow, ISB Hyderabad and Asian Institute of Management, Manila.
 
During his illustrious career of more than 35 years, he has successfully managed multiple crucial portfolios in LIC and left behind highly significant footprints across the organization. As a Managing Director, he manages key portfolios of LIC, including Marketing/Product Development, Investment, Corporate Planning/New Projects, Audit and Subsidiaries viz. IDBI Bank Limited, LIC Pension Fund Limited, LIC HFL AMC Limited - to name a few.
 
After Shri Suseel Kumar took over as Managing Director, LIC saw a striking growth of 25% in first year premium collections and an increase in market share by 2.50% to 69%, reflecting his strong leadership abilities. He has also been instrumental in redefining the business proposition of LIC that earned LIC the 'Best Life Insurer Award' by many leading agencies during this year.
 
He has been influential in guiding, planning and executing growth strategies, while being on the Boards of LIC Mutual Fund Trustee Private Limited, LIC HFL Asset Management Company Limited, LIC Pension Fund Limited, Life Insurance Corporation (Lanka) Limited, National Insurance Academy and Insurance Institute of India. His expertise lies in the areas of strategic planning, marketing, customer centricity and talent management.
 
 
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