REG - Axis Bank Ltd - Directorate Change

Axis BankAnnouncement

02/11/2018 12:25

RNS Number : 2081G
Axis Bank Limited
02 November 2018
 


AXIS/CO/CS/597/2018-19
 
2nd November 2018
  
Dear Sir(s),
 
SUB.:    APPOINTMENT OF SHRI GIRISH PARANJPE AS AN INDEPENDENT DIRECTOR OF AXIS BANK LIMITED.
UPDATE - TENURE OF SHRI V SRINIVASAN AS DEPUTY MANAGING DIRECTOR OF THE BANK
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, at its meeting held today;
 
(I)       Approved the appointment of Shri Girish Paranjpe as an Additional Independent Director of the Bank, with effect from 2nd November 2018 and to hold office as such upto the date of the ensuing Annual General Meeting of the Bank, in terms of Sections 149, 152 and 161 of the Companies Act, 2013 read with the Rules made thereunder and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shri Girish Paranjpe shall not be liable to retire by rotation.
 
The brief profile of Shri Girish Paranjpe is enclosed herewith as Annexure A.
 
Further, please note that Shri Girish Paranjpe is not related to any other Directors or Key Managerial Personnel of the Bank.
 
(II)      Accepted the decision of Shri V. Srinivasan not to be considered for re-appointment as the Deputy Managing Director of the Bank on the expiry of his current tenure of 3 years, on Thursday, 20th December 2018 and to retire from the services of the Bank, with effect from the close of business hours, on the said date.  
 
The Board placed on record its appreciation for the valuable services rendered by Shri V. Srinivasan during his association with the Bank and wished him very best in his future endeavors.
 
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
 
 
Girish V. Koliyote
Company Secretary
 
Encl: as above
 
 
Annexure A
 
 
Shri Girish Paranjpe, age 60 years, served as the Co-CEO of Wipro's IT Business from 2008-2011 and was a member of the Board of Directors of Wipro Ltd.
 
Shri Paranjpe is a Commerce graduate and a member of the Institute of Chartered Accountants of India and Institute of Cost and Works Accountants of India.
 
He had two decades long tenure at Wipro Limited, India's third biggest software company, contributing to rise of India's IT industry from its infancy to its current globally dominant position. He lead the Wipro's IT business worth USD 5.8 billion and employee strength of over one lakh, spread over 54 countries. More recently, he was the Managing Director for Bloom Energy International, a silicon valley based alternative energy company. Shri Girish Paranjpe along with his IT industry colleagues has promoted a venture fund, Exfinity Venture Partners, which invests in tech startups. He is a General Partner at Exfinity.
 




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
BOAUUAURWBAARAA