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Sanjiv Misra, a retired bureaucrat, has been appointed by the board of Axis Bank as Non-Executive Chairman for a period of five years.
Axis Bank has said in a statement that the Board has appointed Misra as an independent director and Non-Executive Chairman for a period of five years.
The bank statement further explained that “Misra was earlier the SUUTI (Special Undertaking of UTI) nominee on the board as Non-Executive Chairman for three years till May 11, 2016. The right of SUUTI to appoint the Chairman of the Bank, under the old Article 89(1) of the Articles of Association was rescinded with effect from May 10, post amendment of the Article of Association.”
