Axis Bank: Nayak exits as Shikha enters

In a dramatic development, PJ Nayak has quit as chairman and CEO of Axis Bank (erstwhile UTI Bank) in protest against the appointment of Shikha Sharma as the bank s new managing director and CEO. Nayak dissented from the decision, and informed the board of directors that he would be leaving the bank forthwith, the bank said in a notice to the stock exchanges. Nayak was opposed to the entry of Sharma, who is currently the managing director & CEO of ICICI Prudential Life Insurance Company. At the board meeting of the bank here on Monday, all other directors, barring Nayak, ...

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