Axis Bank Ltd. has reappointed Amitabh Chaudhry as the managing director and chief executive officer for three years with effect from Jan. 1, 2025. This appointment will be subject to approval of the Reserve Bank of India and approval of the members, in terms of applicable laws, the bank said in an exchange filing on Thursday.
The board has also re-appointed Meena Ganesh as an independent director of the bank for a second term of four years, with effect from Aug. 1, 2024.
Gopalaraman Padmanabhan has also been reappointed as an independent director for a second term of four years, with effect from Oct. 28, 2024.
Chaudhry joined Axis Bank in January 2019, after successfully leading HDFC Standard Life Insurance Co. for over nine years. Under his leadership, HDFC Life emerged as the finest brand in the life insurance space and is one of India's largest private life insurers, the bank said.
Before HDFC Life, Amitabh was the managing director and chief executive officer of Infosys BPO and the head of the testing unit of Infosys Technologies Ltd.
Shares of Axis Bank were trading 4.8% higher at Rs 1,115 apiece, compared to a 0.14% advance in the benchmark Nifty 50 as of 11:16 a.m.
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