The bank, however, did not disclose names of the candidates shortlisted for the post.
Private sector lender Axis Bank on Monday said its board has recommended the appointment of Shikha Sharma, currently chief of ICICI group's life insurance business, as its next managing director and CEO.
Shikha Sharma's contentious appointment as CEO of Axis Bank doesn't detract from her sound reputation in the financial world.
Axis Bank's chief talks of her stress-busters and brushes over the 'Chanda-Shikha' stories.
In a career spanning over 29 years, Sharma has had a wide exposure across the entire spectrum of financial services and has held several leadership positions across various market-leading businesses, the bank said in a statement. Axis Bank is the third-largest private sector bank in India and its network spans across more than 840 offices and over 3,600 ATMs.
Sharma to step down as Axis Bank chief on December 31.
Former ICICI Bank veteran Shikha Sharma will take home a hefty pay packet as Axis Bank managing director and CEO that will be in excess of Rs 2 crore (Rs 20 million) a year, if one counts allowances and other perquisites.
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Sharma would be 60 in November 2018, and would have completed 10 years as Axis Bank's CEO the following year in June.
Under Sharma Axis Bank has also taken the lead in focusing on technology, which has now become core to almost every other lender's strategy.
Axis Bank Managing Director & Chief Executive Officer Shikha Sharma on the new mechanism for non-performing loans, the bank's loan portfolio, industry outlook and the bank's future plans.
Former Axis Bank chairman and CEO PJ Nayak said managements should look at appointing outsiders only when the organisation is weak.
Kangana Ranaut plays an Air Force pilot in Tejas, joining an increasing list of films and shows centered around women playing significant roles in their careers.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
Chanda Kochhar has been ranked as the most powerful woman in the Asia Pacific region by fortune magazine.
Puri earned a salary of Rs 7.39 crore in FY15, up 21.74% from last year
These are the highest-earning bank CEOs in India.
Mukesh Ambani has got company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal.
Multiple concerns have, of late, raised questions about India's continuing growth story. Persisting high inflation threatened a hard landing for India's economy, says Shikha Sharma.
RBI has directed the bank to revise the accounting scheme and the deal structure.
Arundhati Bhattacharya, the chairperson of country's largest bank SBI, has been named as the most-powerful woman in business in India by Fortune magazine.
Three Indians -- Pepsi Co chief Indra Nooyi, corporate honchos like India-born Pepsi Co chief Indra Nooyi, Axis Bank's chief executive Shikha Sharma and ICICI Bank's chief Chanda Kocchar -- have figured in the list of Forbes' 'The World's 100 Most Powerful Women' 2010' released on Thursday.
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Executive Director V Vaidyanathan will assume the position of managing director and chief executive officer of the bank's life insurance arm, ICICI Prudential. This slot had fallen vacant as Shikha Sharma decided to move to Axis Bank.
Sharma who took over as the chief executive officer and managing director in June is, however, confident that the bank will continue to beat the industry growth rate and sustain the margins and return ratios.
Sources said that this is a contingency plan, in the event of an exit of the present heads of its two subsidiaries ICICI Prudential and ICICI Ventures. At present, Shikha Sharma is managing director & chief executive officer (CEO) of ICICI Prudential Life Insurance, while Renuka Ramanathan is managing director and CEO of ICICI Ventures.
ICICI group's private equity business head Renuka Ramnath is believed to have put in her papers on Monday.
The board of ICICI Bank, the country's second-largest lender, will take a final call on appointing a successor to K V Kamath, its present managing director and chief executive officer, next month.
Prudential ICICI's managing director, Shikha Sharma, talks about how the journey has been so far and also why she thinks unit-linked insurance plans are the best allocators of long-term funds.
SBI's Bhattacharya is ranked second on the list, while ICICI's Kochhar is 5th and Axis's Sharma is 19th in the Fortune list
Prudential, the leading international financial services company, would hire at least 10,000 new staff in India this year for its joint venture insurance operation.
HDFC Bank managing director Aditya Puri, ICICI Bank MD and CEO Chanda Kochhar, and Axis Bank MD and CEO Shikha Sharma did not receive their bonuses in full for financial year 2016-17
The bank's board has already established a search and selection committee comprising three members from the existing nomination and remuneration committee along with two external experts to identify Kapoor's successor.
Kapoor was among the founding team of Yes Bank, along with Ashok Kapur who died in 2008.
ICICI Prudential Life Insurance on Monday said it will hike capital by Rs 50 crore to Rs 575 crore by the end of this fiscal, after posting over 170 per cent jump in business till September.
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