Axis Bank has announced that, on the recommendations of the Nomination and Remuneration Committee, the Board of Directors has appointed CH S. S. Mallikarjunarao as an additional independent director of the Bank, via an exchange filing.
The appointment is for a period of four years, with effect from February 1, 2023 up to January 31, 2027, subject to the approval of shareholders, and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In terms of Section 149(13) of the Companies Act, 2013, he shall not be liable to retire by rotation during his tenure as an independent director of the Bank, the bank said.
About Mallikarjunarao
CH S. S. Mallikarjunarao, age 61 years, is a professional banker with more than 37 years of experience.
He started his banking career as a probationary officer in Bank of Maharashtra in 1985.
He retired as Managing Director & CEO (MD & CEO) of Punjab National Bank (PNB) in January 2022.
During his tenure at PNB, he successfully completed the amalgamation of Oriental Bank of Commerce and United Bank of India into PNB in terms of the notification issued by the Government of India.
PNB became the second-largest public sector bank after the merger, with over 10,000 branches and over 1 lakh employees.
Prior to assuming the position of MD & CEO of PNB, he was MD & CEO of Allahabad Bank from September 2018 to September 2019. Prior to this, he was the Executive Director of Syndicate Bank since 2016.
Mr. Mallikarjunarao has held various positions in Oriental Bank of Commerce including as General Manager, Chief Financial Officer, Head of Information Technology, Digital Banking and Risk Department, etc.
He has requisite qualification, skills, experience and expertise in specific functional areas viz. Accountancy, Agriculture & Rural Economy, Banking, Finance, Small-Scale Industry, Information Technology, Human Resource, Risk Management, Business Management and Insurance.
He holds a bachelors degree in science and general laws and is a Certified Associate of Indian Institute of Bankers.
