Axis Bank names 3 candidates as potential successors to Shikha Sharma

"The Board of Directors of the Bank at its meeting held on 9th July 2018, has recommended the names of three candidates, in order of preference, for the approval of the RBI. The candidate as approved by the RBI will succeed Smt. Shikha Sharma," the release said.

In April, the bank had trimmed the balance term of Shikha Sharma to seven months from three years at her request. Sharma has been at the bank's helm since June 2009.

In July 2017, the board of the third largest private lender had announced its decision to re-appoint Sharma as the MD & CEO for a period of 3 years with effect from June 1, 2018, subject to requisite approvals.

In April 2018, however, this was reduced. Media reports then suggested that the Reserve Bank of India had asked Axis' board to reconsider Sharma's reappointment at the helm for the fourth term on the grounds of the bank's dwindling financial performance.