The Reserve Bank of India (RBI) approved the re-appointment of Mr Amitabh Chaudhry as Managing Director and Chief Executive Officer (CEO) of leading private lender - Axis Bank for a period of three years.
The extended three-year term will be effective from January 1, 2022, according to a regulatory filing by the bank to the stock exchanges.
''The Reserve Bank of India vide its letter dated October 14, 2021, has approved the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of the Bank, w.e.f. January 01, 2022 till December 31, 2024 (both days inclusive),'' said the bank's statement.
The board of Axis Bank cleared the extension of his tenure for a period of three years, subject to regulatory clearance.
Axis Bank's board of directors include Mr Rakesh Makhija -Independent Director & Non Executive (Part time) Chairman, Mr Amitabh Chaudhry- Managing Director & CEO, Mr S Vishvanathan- Independent Non-Executive Director, Ms Ketaki Bhagwati - Independent Non-Executive Director, and Mr Stephen Pagliuca - Nominee Director, according to Axis Bank's website.
Mr Chaudhry was the MD and CEO of HDFC Standard Life Insurance Company before joining Axis Bank. The banker has also served as the Head of testing unit of Infosys Technologies Limited and MD & CEO of Infosys BPO.
On Thursday, October 14, shares of Axis Bank settled 0.98 per cent higher at Rs 802 apiece on the BSE. Axis Bank opened on the BSE at Rs 796.35, swinging to an intra day high of Rs 803.85 and an intra day low of Rs 788, throughout the trading session yesterday. Stock markets were closed today on account of the Dussehra festival.