Axis Bank Announces CFO Resignation and Board Re-appointments of Senior Directors

Axis Bank Announces CFO Resignation and Board Re-appointments of Senior Directors​

Axis Bank Limited has announced a change in its senior management and confirmed key re-appointments to its board, effective from various dates in 2027. The bank's Chief Financial Officer tendered his resignation, while the Board of Directors approved the reappointment of two experienced professionals: CH S S Mallikarjunarao as an Independent Director and Munish Sharda as a Whole-Time Director.

Puneet Sharma, who served as the Bank's Chief Financial Officer, resigned on June 28, 2026, to pursue the next phase of his professional career. Mr Sharma will be relieved from the services of Axis Bank at the close of business on August 31, 2026, marking the end of his tenure as key managerial personnel and senior management member. The Bank expressed appreciation for Mr Sharma's contributions during his time with the institution.

The Board of Directors met on June 29, 2026, and approved significant re-appointments based on the recommendations of the Nomination and Remuneration Committee.

CH S S Mallikarjunarao was re-appointed as an Independent Director for a second term spanning four years. His tenure is set to run from February 1, 2027, up to January 31, 2031, subject to the approval of the Bank's members.

Additionally, Munish Sharda was re-appointed as a Whole-Time Director and Executive Director for a period of three years. His tenure commences from February 27, 2027, and extends up to February 26, 2030, pending approval from the Reserve Bank of India (RBI) and the members of the Bank.

The details regarding the individuals and their respective roles are presented below:

Senior Management and Board Profiles​

The Bank provided detailed profiles for the re-appointed directors:

• CH S S Mallikarjunarao: This professional banker, aged 64 years, possesses over 37 years of experience in banking. His career includes serving as MD & CEO of Punjab National Bank (PNB) (retirement January 2022) and Allahabad Bank (September 2018 to September 2019). He previously served as Executive Director at Syndicate Bank since 2016 and held various senior roles at Oriental Bank of Commerce.
• Munish Sharda: Aged 55 years, Mr Sharda has over 34 years of experience spanning banking, insurance, consumer goods, and engineering. In his role overseeing the commercial banking group, he is responsible for retail assets, retail liabilities, and branch banking. Prior to joining Axis Bank, Mr Sharda served as MD & CEO at Future Generali India Life Insurance and gained experience at Citibank India, Blow Plast Limited, and Larsen & Toubro Limited.

Both CH S S Mallikarjunarao and Munish Sharda have confirmed that they are not debarred from holding the office of a director by any order of SEBI or other statutory authority.

AXISBANK Stock Price Movement​

Today, Axis Bank Limited shares shed 0.67% in post-market trading, finishing at ₹1356.80 after closing lower by ₹9.20. The stock saw heavy activity during the session, with approximately 12.6 million shares transacted.