Axis Bank Names Rakesh Makhija As New Chairman

Private sector lender Axis Bank, on Tuesday, named Rakesh Makhija as its new Non-Executive Part-Time Chairman. Makhija, who is the Chairman of SKF India, will take over from current Axis Bank Chairman Sanjiv Mishra, when his term comes to an end on July 17.

“Pursuant to the recommendations of the Nomination & Remuneration Committee of Directors, the board of directors of the bank, at its meeting held today, approved the appointment of Rakesh Makhija, Independent Director, as the Non-Executive (Part-Time) Chairman of the bank, for a period of three years, with effect from July 18, 2019, up to July 17, 2022,” Axis Bank said in a regulatory filing.

Makhija, 67 is also a Director on the board of Tata Tech, Tata Marcopolo Motors and ATREDS, and has been an Independent Director on the board of Axis since October 2015.