Up to three c-suite positions in the banking sector have witnessed resignations in the span of three days. These departures consist of the positions of chief financial officer (CFO) for Axis Bank and Bandhan Bank along with the role of chief executive officer and managing director of Kotak Bank Ltd.
Puneet Sharma resigned from the position of CFO for Axis Bank Ltd. on Sunday, to start "the next phase of his professional journey" as stated in his resignation letter. He served in the position for six years and ceases to hold the role by Aug. 31.
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"When I accepted this role more than six years ago, my core mandate was to build a strong team with deep functional strength, robust financial controls and reporting discipline, incorporate prudent financial practices, build a resilient balance sheet and improve shareholder trust," Sharma wrote in his resignation letter, attached with the exchange filing.
"These objectives are now largely complete," he said.
Sharma left the role to join as HDFC Bank's CFO.
Bandhan Bank's CFO Rajiv Mantri also tendered his resignation on Monday in order to "pursue another opportunity from a career growth perspective" as stated in the firm's exchange filing announcing his departure from the role.
In terms of policies of the bank, his last working day with the Bank as CFO and KMP (key managerial personnel) would be Sept. 25, 2026, the exchange filing said.
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"I have enjoyed working at Bandhan Bank and contributing towards the strategic transformation of the bank. I will be leaving with enriching experience and learning during my tenure here," Mantri said in his resignation letter.
Kotak Mahindra Bank Ltd.'s CEO and MD Ashok Vaswani did not seek reappointment, bringing his term in the aforementioned roles to a close on Dec. 31, 2026.
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