BIZ-AXIS BANK-LEADERSHIP TRANSITION
People come and go, but
institutions last longer if built right, is how Shikha Sharma,
the outgoing managing director and chief executive of Axis
Bank, described her forthcoming departure from the institution
that she helped grow.
Sharma will demit office on December 31 after serving
the third largest private sector lender for nine long years.
Flanked by her deputy V Srinivasan, who will also be
stepping down next month, Sharma, addressing the press at her
last earnings presser, hoped the capabilities built by her and
the rest of the leadership team, will endure for the
betterment of the institution in the future.
"People come and go, but I think institutions last
much longer if they are built right. And hopefully we will see
evidence of that going forward," said Sharma, who gracefully
accepted the Reserve Bank decision to curtail her new term
three-year term, unlike her counterpart at the smaller rival
Yes Bank, Rana Kapoor, who made a fervent request to the
regulator to reconsider its decision.
Sharma, whose term was curtailed by the Reserve Bank
this June for as yet unspecified reasons like that of Kapoor,
claimed that "an enormous amount of capability" has been built
within the bank both from a people- and a processes-
perspective which will hold the bank in good stead going
She specifically pointed out to the bank's
capabilities both on the liabilities side in getting deposits
as well as on the asset side including consumer, small
businesses and even corporate lending.
Admitting that there were "hiccups" on the corporate
book side, Sharma asserted that the third largest private
sector lender's showing in this segment has been better than
the peers which also focused on corporate lending.
Srinivasan described his nine years at the bank as a
"tremendous journey" which started with the growth phase and
was followed by the hiccups of recognising and resolving the
bad assets mess.
He further said the bank is best positioned to take
advantage of all the growth opportunities that lie ahead.
Meanwhile, the bank Friday announced that Sharma's
successor Amitabh Chaudhry will join on November 19 before
taking over in January.
"There is a leadership transition happening in the
bank and I think from a succession point of view, we should
have an orderly transition," Sharma said wishing the best for
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)