Shikha Sharma seeks shorter term at Axis Bank

Shikha Sharma’s term as the chief executive of Axis BankNSE 4.35 % would come to an end in December this year bringing curtains down on a position spanning nearly a decade that began with a tumult and culminate in a shortened term because of the regulator’s reluctance to approve the Axis board’s proposal.

The board of directors of the bank have written to the Reserve Bank of India saying that Sharma has requested them to reduce her fourth term to December 2018, instead of May 2021, triggering a hunt for her successor.

“Shikha Sharma, Managing Director & CEO of the Bank has requested the Board to reconsider the period of her re-appointment as the Managing Director & CEO of the Bank be revised from 1st June 2018 up to 31st December 2018,” the bank said in a stock exchange filing.