The Axis Bank board has shortlisted three candidates for the post of CEO in an order of preference for approval from the Reserve Bank of India (RBI), the bank said in a notice to the stock exchanges. It did not disclose the names of the shortlisted executives.In April the bank had engaged executive search firm Egon Zehnder to find a suitable successor to Shikha Sharma, whose term came to an abrupt end earlier this month after she informed the board that she will not continue on her post after December.Sharma’s third three-year term was coming to a close on June 30, 2018, and the board had approved another three-year extension last year. However, the central bank declined to approve the board’s proposal for an extension likely because it was not happy with the surge in the bank’s non-performing assets (NPAs). Axis Bank’s NPAs quadrupled in the past three years.The bank said it will make necessary disclosures as soon as it hears from the RBI.
from The Economic Times https://ift.tt/2u4x8fZ
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