Re-appointment of Directors
AXIS/CO/CS/56/2024-25
April 25, 2024
Dear Sir/Madam,
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REF.: |
DISCLOSURE UNDER REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS") |
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SUB.:
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OUTCOME OF BOARD MEETING - RE-APPOINTMENT OF DIRECTORS |
Pursuant to Regulation 30 of the SEBI Listing Regulations, we would like to inform you that the Board of Directors (the "Board") of Axis Bank Limited (the "Bank") at its meeting held today, i.e., April 25, 2024, has approved the following:
Re-appointment of Amitabh Chaudhry as Managing Director & Chief Executive Officer ("MD & CEO")
Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the re-appointment of Amitabh Chaudhry as MD & CEO of the Bank, for a further period of three years with effect from January 1, 2025 up to December 31, 2027 (both days inclusive), subject to approval of the Reserve Bank of India (RBI) and approval of the members, in terms of applicable laws.
Amitabh Chaudhry is not related to any of the directors or key managerial personnel of the Bank.
Further, in line with the Stock Exchange Circular dated June 20, 2018, it is hereby confirmed that he is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.
Brief profile of Amitabh Chaudhry is enclosed as Annexure A.
Re-appointment of Independent Directors:
Based on the recommendations of the Nomination and Remuneration Committee, the Board approved:
(a) the re-appointment of Meena Ganesh as an independent director of the Bank for second term of four years with effect from August 1, 2024 up to July 31, 2028 (both days inclusive), subject to approval of the members of the Bank.
(b) the re-appointment of Gopalaraman Padmanabhan as an independent director of the Bank for second term of four years with effect from October 28, 2024 up to October 27, 2028 (both days inclusive), subject to approval of the members of the Bank.
In terms of Section 149(13) of the Companies Act, 2013, Meena Ganesh and Gopalaraman Padmanabhan shall not be liable to retire by rotation during their tenure as independent directors of the Bank.
Meena Ganesh and Gopalaraman Padmanabhan are not related to any of the directors or key managerial personnel of the Bank.
Further, in line with the Stock Exchange Circular dated June 20, 2018, it is hereby confirmed that they are not debarred from holding the office of director by virtue of any SEBI order or any other such authority.
Brief profiles of Meena Ganesh and Gopalaraman Padmanabhan is enclosed as Annexure A.
The Board meeting commenced at 09:30 am (IST) and the above proposals were approved at 10:45 am (IST).
This is for your information and records.
Thanking You.
Yours faithfully,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
http://www.rns-pdf.londonstockexchange.com/rns/0061M_1-2024-4-25.pdf
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