REG - Axis Bank Ltd - RBI APPROVAL FOR APPOINTMENT OF MD & CEO

Axis BankAnnouncement

10/09/2018 07:10

RNS Number : 2370A
Axis Bank Limited
10 September 2018
 


AXIS/CO/CS/473/2018-19
 
8th September 2018
 
Dear Sir(s),
 
SUB.:    RBI APPROVAL - APPOINTMENT OF MANAGING DIRECTOR & CEO OF AXIS BANK LIMITED
REF:      REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 (THE LISTING REGULATION)
 
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.
 
Further, please note that a meeting of the Board will be convened in due course to inter alia, approve the appointment of Shri Amitabh Chaudhry as an Additional Director of the Bank and as the Managing Director & CEO of the Bank, in terms of the said RBI approval and subject to compliance with the prescribed formalities under extant laws.
 
The brief profile of Shri Amitabh Chaudhry is enclosed herewith as Annexure A. Further, please note that Shri Amitabh Chaudhry is not related to any other Directors or Key Managerial Personnel of the Bank.
 
In this connection, we also enclose herewith the Press Release as Annexure B, which please note is being uploaded on the website of the Bank, in terms of the Listing Regulations.
 
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
 
Mr. Amitabh Chaudhry, age 54 years, is the Managing Director & CEO of HDFC Standard Life Insurance Company Ltd ("HDFC Life"). He has been associated with HDFC Life since January 2010.
 
Mr. Chaudhry started his career in the Corporate Banking 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.
Mr. Chaudhry was also associated with CALYON Bank (formerly Credit Lyonnais Securities Asia (CLSA), as its Managing Director, Head South East Asian Investment Banking and Head Technology Investment Banking.
 
Prior to joining HDFC Life, he joined Infosys BPO Ltd. in 2003 and was elevated as its Managing Director & CEO in 2006. He was also Head - Independent Validation & Testing Unit (IVS) of Infosys Technologies Ltd.
 
Mr. Chaudhry is a B. Tech in (Electronic & Electricals) from the Birla Institute of Technology & Science, Pilani and is an alumnus of Indian Institute of Management, Ahmedabad.
 
 
ANNEXURE B
 
PRESS RELEASE
 
Amitabh Chaudhry receives RBI approval to be appointed as Axis Bank's Managing Director & CEO
 
Mumbai, Sept 08, 2018: Axis Bank, India's third largest private sector bank today announced that Board of Directors 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 Mr. 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).  Mr. Chaudhry will take over from Mrs. Shikha Sharma after she demits office on December 31, 2018. 
 
Mr. Chaudhry said: "I would like to thank the RBI and the Axis Bank Board for the privilege and honor given to me to lead this great institution. Axis Bank is amongst the leading private sector banks in the country. Together, with the support of the Board and the Axis team, I am confident of continuing the bank's remarkable journey these past 25 years and to contribute to its future growth."
 
Mr. Amitabh Chaudhry, age 54 years, is the Managing Director & CEO of HDFC Standard Life Insurance Company Ltd ("HDFC Life"). He has been associated with HDFC Life since January 2010.
 
Mr. Chaudhry started his career in the Corporate Banking 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.
Mr. Chaudhry was also associated with CALYON Bank (formerly Credit Lyonnais Securities Asia (CLSA), as its Managing Director, Head South East Asian Investment Banking and Head Technology Investment Banking.
 
Prior to joining HDFC Life, he joined Infosys BPO Ltd. in 2003 and was elevated as its Managing Director & CEO in 2006. He was also Head - Independent Validation & Testing Unit (IVS) of Infosys Technologies Ltd.
 
Mr. Chaudhry is a B. Tech in (Electronic & Electricals) from the Birla Institute of Technology & Science, Pilani and is an alumnus of Indian Institute of Management, Ahmedabad.
 
Mrs. Shikha Sharma, MD & CEO of Axis Bank said "I have spent over 9 years with the bank and I shall always look back at my journey with a deep sense of satisfaction and pride. I have particularly enjoyed the opportunity to work with the Axis team in leveraging the myriad opportunities in the financial sector over the last decade. I am sure that under the leadership of Amitabh the bank would soar to greater heights.
 
Dr. Sanjiv Misra, Chairman, Axis Bank said "After an extensive search, my fellow directors and I are pleased to welcome Amitabh as the Bank's MD & CEO. Amitabh has a proven track record and is well-equipped to lead Axis Bank in pursuing its growth ambitions balanced with a strong emphasis on risk and compliance management."
 
About Axis Bank:               
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 3,779 domestic branches (including extension counters) and 12,834 ATMs across the country as on 30th June 2018, the network of Axis Bank spreads across 2,211 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has ten overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo; representative offices at Dubai, Abu Dhabi, Sharjah and Dhaka and an overseas subsidiary at London, UK.
 
The Bank's website www.axisbank.com offers comprehensive details about its products and services.
 



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