India's 3rd largest private sector lender Axis Bank today announced that it has appointed Amitabh Chaudhry as it's new Managing Director & Chief Executive Officer (MD & CEO) from 1st January 2019 for a period of three years (till 31st December 2021).

He is going to replace the present CEO Shikha Sharma who is going to retire on 31st December 2018. In April, Axis Bank board had curtailed the fourth term of its CEO and Managing Director Shikha Sharma to seven months following an unusual request from her that she be relieved on December 2018, 29 months ahead of the scheduled term. In July 2017, the Axis Bank board had approved re-appointment of Sharma. Her fourth term as MD & CEO began from June 2018.