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BIZ-AXIS BANK-LEADERSHIP TRANSITION


PTI Mumbai
Updated: 02-11-2018 19:44 IST

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

forward.

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

her successor.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : India