Axis Bank CFO Puneet Sharma steps down; stock likely in focus on Tuesday
Axis Bank shares settled 1.37 per cent lower at Rs 1,357.70 on Monday. At this closing price, the stock has gained 13.24 per cent over the past one year and 80.87 per cent in the last five years.
- Jun 29, 2026,
- Updated Jun 29, 2026 5:43 PM IST
Shares of Axis Bank Ltd are likely to remain in focus on Tuesday after the private lender announced that Chief Financial Officer (CFO) Puneet Sharma has tendered his resignation.
"Puneet Sharma, Chief Financial Officer of the Bank, has tendered his resignation on June 28, 2026, to pursue the next phase of his professional journey. He will be relieved from the services of the Bank at the close of business on August 31, 2026, and shall cease to be the key managerial personnel and a part of the senior management of the Bank with effect from that date," the lender said in a post-market filing.
"When I accepted this role more than six years ago, my core mandate was to build a strong team with deep functional strength, robust financial controls and reporting discipline, incorporate prudent financial practices, build a resilient balance sheet and improve shareholder trust. These objectives are now largely complete. Beyond the core finance mandate, it has been professionally and personally fulfilling to successfully work with our legal, secretarial, corporate real estate and administration functions and serve on the boards of the Bank's subsidiaries," Sharma wrote in his resignation letter.
"I remain fully committed to ensuring a seamless and responsible handover of my duties. As my appointment to the board of a subsidiary is by virtue of my employment with the Bank, I will also step down from the board of the subsidiary in due course prior to the effective date of my resignation," he added.
Separately, the bank's board approved the reappointment of CH SS Mallikarjunarao as an Independent Director for a second term of four years, effective from February 1, 2027, to January 31, 2031 (both days inclusive), subject to shareholders' approval.
The board also approved the reappointment of Munish Sharda as Whole-Time Director (designated as Executive Director) for a further term of three years, from February 27, 2027, to February 26, 2030, subject to approvals from the Reserve Bank of India (RBI) and the bank's members.
Meanwhile, Axis Bank shares settled 1.37 per cent lower at Rs 1,357.70 on Monday. At this closing price, the stock has gained 13.24 per cent over the past one year and 80.87 per cent in the last five years.
Shares of Axis Bank Ltd are likely to remain in focus on Tuesday after the private lender announced that Chief Financial Officer (CFO) Puneet Sharma has tendered his resignation.
"Puneet Sharma, Chief Financial Officer of the Bank, has tendered his resignation on June 28, 2026, to pursue the next phase of his professional journey. He will be relieved from the services of the Bank at the close of business on August 31, 2026, and shall cease to be the key managerial personnel and a part of the senior management of the Bank with effect from that date," the lender said in a post-market filing.
"When I accepted this role more than six years ago, my core mandate was to build a strong team with deep functional strength, robust financial controls and reporting discipline, incorporate prudent financial practices, build a resilient balance sheet and improve shareholder trust. These objectives are now largely complete. Beyond the core finance mandate, it has been professionally and personally fulfilling to successfully work with our legal, secretarial, corporate real estate and administration functions and serve on the boards of the Bank's subsidiaries," Sharma wrote in his resignation letter.
"I remain fully committed to ensuring a seamless and responsible handover of my duties. As my appointment to the board of a subsidiary is by virtue of my employment with the Bank, I will also step down from the board of the subsidiary in due course prior to the effective date of my resignation," he added.
Separately, the bank's board approved the reappointment of CH SS Mallikarjunarao as an Independent Director for a second term of four years, effective from February 1, 2027, to January 31, 2031 (both days inclusive), subject to shareholders' approval.
The board also approved the reappointment of Munish Sharda as Whole-Time Director (designated as Executive Director) for a further term of three years, from February 27, 2027, to February 26, 2030, subject to approvals from the Reserve Bank of India (RBI) and the bank's members.
Meanwhile, Axis Bank shares settled 1.37 per cent lower at Rs 1,357.70 on Monday. At this closing price, the stock has gained 13.24 per cent over the past one year and 80.87 per cent in the last five years.