Axis Bank Extends Amitabh Chaudhry's CEO Tenure
Following this announcement, Axis Bank's shares experienced a significant spike, with the stock trading at Rs 1130.20, marking a 6.30 per cent increase from the previous close
The Board of Axis Bank has approved the extension of Amitabh Chaudhry's tenure as Managing Director & CEO for another three years, effective from 1 January 2025 to 31 December 2027, pending approvals from the Reserve Bank of India (RBI) and the bank's members.
Amitabh Chaudhry, aged 59, assumed the role of Managing Director & CEO at Axis Bank on 1 January, 2019, after a distinguished leadership tenure at HDFC Standard Life Insurance Company (HDFC Life) spanning over nine years.
Following this announcement, Axis Bank's shares experienced a significant spike, with the stock trading at Rs 1130.20, marking a 6.30 per cent increase from the previous close. Over the past year, the stock has surged by more than 28.67 per cent and has gained 2.96 per cent since the beginning of the year.
Prior to his role at HDFC Life, Chaudhry held key positions at Infosys BPO and served as the Head of the testing unit at Infosys Technologies Limited.
Additionally, the board has sanctioned the re-appointment of Meena Ganesh and Gopalaraman Padmanabhan as Independent Directors for another four-year term each. Meena Ganesh's re-appointment tenure is set from 1 August 2024 to 31 July 2028, while Gopalaraman Padmanabhan's re-appointment spans from 28 October 2024 to 27 October 2028, pending approval from the bank's members.
Originally known as UTI Bank (1993–2007), Axis Bank is a leading Indian multinational banking and financial services institution headquartered in Mumbai, Maharashtra. It ranks as India's third-largest private sector bank by assets and the fourth-largest by market capitalisation, serving a diverse clientele ranging from large and mid-size corporations to SMEs and retail customers with a wide array of financial services.
