Axis Bank Ltd. said its board approved the reappointment of Managing Director & Chief Executive Officer Amitabh Chaudhry for another three years.

The reappointment, effective 1 January 2025, will be subject to approval of the Reserve Bank of India and shareholders, the Indian lender said in a stock exchange announcement.

Chaudhry, 59, joined Axis Bank as MD and CEO with effect from 1 January 2019, after successfully leading HDFC Standard Life Insurance Company Ltd. (HDFC Life) for over nine years, it added.

Prior to HDFC Life, Chaudhry was the MD & CEO of Infosys BPO and the head of testing unit of Infosys Technologies Ltd.

Chaudhry is an engineer from Birla Institute of Technology and Science, Pilani and post graduate in Business Management from IIM, Ahmedabad, according to the statement.

Shares of Axis Bank rose 6.2% to 1,128.80 rupees on India’s National Stock Exchange in Mumbai afternoon trading today.

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