Axis Bank Rises After CEO Shikha Sharma To Cuts tenure To Seven Months
Shares of the country’s third largest private lender rose as much as 3 percent to Rs 534.85 after its managing director and CEO Shikha Sharma wanted her new term to be reduced to seven months from three-year tenure that has been approved by the bank’s board.
The Axis Bank board has accepted her request for a shorter seven-month term (from June 1 to December 31, 2018), subject to the approval of the Reserve Bank of India (RBI), the bank said in a regulatory filing.
