Axis Bank CFO Puneet Sharma resigns, to step down on August 31

Axis Bank on Monday said its chief financial officer (CFO) Puneet Sharma has resigned to pursue the "next phase" of his professional journey and will step down from the role at the close of business on August 31, 2026.

In a stock exchange filing, the private sector lender said Sharma tendered his resignation on June 28 and will cease to be the bank's key managerial personnel and part of its senior management from August 31.

In his resignation letter addressed to Axis Bank Managing Director and CEO Amitabh Chaudhry, Sharma said his decision followed "careful contemplation" and was driven by his desire to "seek a fresh start with new challenges."

Reflecting on his tenure, Sharma said he was proud of the work undertaken to strengthen the bank's finance function.

"I leave with deep satisfaction in the achievements we made together, from strengthening our financial controls and reporting discipline, incorporating prudent financial practices, building resilience across the finance function and improving shareholder trust," he wrote.

He added that the finance team had successfully navigated complex strategic initiatives while maintaining strong financial discipline.

"The disciplined foundation built has allowed us to navigate the complexities of acquisitions, scale operations at a high velocity, maintain robust treasury, and sustainably maintain financial prudence and policies of risk across stakeholders," Sharma said.

Calling the decision a difficult one, Sharma said he was grateful to the bank's board, management and colleagues for their support during his tenure.

"I remain fully committed to ensuring a smooth and responsible handover of my duties," he said, adding that any future engagement with the bank's subsidiaries would be subject to completion of his notice period and applicable approvals.

Axis Bank, India's third-largest private sector lender by market capitalisation, said it places on record its appreciation for Sharma's contribution and wished him the very best in his future endeavours.

Separately, the bank's board approved the reappointment of CH S S Mallikarjunarao as an independent director for a second four-year term from February 1, 2027, subject to shareholder approval. It also approved the reappointment of executive director Munish Sharda for a further three-year term from February 27, 2027, subject to approvals from the Reserve Bank of India and shareholders.

Shares of Axis Bank ended Monday's session 0.67% lower at ₹1,368 apiece on the NSE. The stock has gained nearly 12% over the past year, outperforming the benchmark Nifty 50, which has declined more than 6% during the same period.