{{short description|Indian economist and banker (born 1958)}} {{Use British English|date=January 2014}} {{Use dmy dates|date=January 2014}} {{Infobox person | name = Shikha Sharma | image = | caption = | alt = | birth_place = India | birth_date = {{birth date and age|1958|11|19|df=yes}} | alma_mater = Lady Shri Ram College<br>Indian Institute of Management Ahmedabad (1978 – 1980) | occupation = Banker | title = MD and CEO, Axis Bank | term = 2009-2018 | predecessor = P. J. Nayak | successor = Amitabh Chaudhry | boards = Piramal Enterprises<br>Tata Consumer Products<br>Ambuja Cements<br>Mahindra & Mahindra<br>Dr. Reddy's Laboratories | spouse = Sanjaya Sharma | children = 2 | parents = | relatives = | website = }}
'''Shikha Sharma''' (born 19 November 1958) is an Indian economist and banker. She was the managing director and CEO of Axis Bank from 2009 to 2018.<ref>{{Cite web |title=Forbes India Magazine - The Quiet Architect: Shikha Sharma has magically transformed Axis Bank in a short span |url=http://forbesindia.com/article/leaderhip-awards-2014/the-quiet-architect-shikha-sharma-has-magically-transformed-axis-bank-in-a-short-span/38805/1 |access-date=2016-02-09 |website=forbesindia.com |archive-date=25 December 2018 |archive-url=https://web.archive.org/web/20181225202334/http://www.forbesindia.com/article/leaderhip-awards-2014/the-quiet-architect-shikha-sharma-has-magically-transformed-axis-bank-in-a-short-span/38805/1 |url-status=live }}</ref><ref name=":0">{{Cite news |last=Gopakumar |first=Gopika |last2=Archana |first2=Alekh |date=9 April 2018 |title=Axis Bank CEO Shikha Sharma cuts short her tenure, to exit on 31 December |url=https://www.livemint.com/Companies/Hd3UT8KCZfqtGvb2f9YncO/Axis-Bank-CEO-Shikha-Sharma-seeks-to-cut-term-to-endDecembe.html |access-date=16 January 2024 |work=Live Mint}}</ref> She also worked for nearly thirty years at the ICICI Group, across its bank and insurance companies.<ref name=":0" />
==Early life and education==
Shikha Sharma was born on 19 November 1958.<ref name=":4">{{Cite web |last=Bandyopadhyay |first=Tamal |date=2014-06-14 |title=Shikha Sharma {{!}} The liberal banker |url=https://www.livemint.com/Leisure/9jXICHU4eVtCcWI5DHh69I/Shikha-Sharma--The-liberal-banker.html |access-date=2024-01-16 |website=mint |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211625/https://www.livemint.com/Leisure/9jXICHU4eVtCcWI5DHh69I/Shikha-Sharma--The-liberal-banker.html |url-status=live }}</ref> Her father served in the Indian Army, reaching the rank of brigadier in the ordnance corps and fought in the 1965 and 1971 Indo-Pakistani wars. Due to his military service, Shikha grew up across the country, attending seven schools in as many cities.<ref>{{Cite news |date=18 September 2011 |title=Bankable Star - Shikha Sharma |url=http://www.businesstoday.in/magazine/special/most-powerful-women-in-business-2011-shikha-sharma/story/18322.html |work=Business Today |archive-date=6 January 2019 |access-date=9 February 2016 |archive-url=https://web.archive.org/web/20190106082452/https://www.businesstoday.in/magazine/special/most-powerful-women-in-business-2011-shikha-sharma/story/18322.html |url-status=live }}</ref> She graduated from the Loreto Convent School in Delhi.<ref>{{cite news|title=Prudent gleanings: Shikha Sharma's success story|url=http://economictimes.indiatimes.com/features/the-leisure-lounge/prudent-gleanings-shikha-sharmas-success-story/articleshow/3532276.cms|accessdate=27 January 2014|newspaper=The Economic Times|date=27 September 2008|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225202325/https://economictimes.indiatimes.com/features/the-leisure-lounge/prudent-gleanings-shikha-sharmas-success-story/articleshow/3532276.cms|url-status=live}}</ref>
Despite an interest in studying physics, she graduated with a BA (Honours) in Economics from the Lady Shri Ram College in Delhi and an MBA from Indian Institute of Management Ahmedabad. She also earned a post-graduate diploma in Software Technology from the National Centre for Software Technology in Bombay.<ref>{{cite news |date=16 February 2010 |title=Lunch with BS: Shikha Sharma |url=http://www.business-standard.com/article/opinion/lunch-with-bs-shikha-sharma-110021600095_1.html |accessdate=27 January 2014 |newspaper=Business Standard |archive-date=25 December 2018 |archive-url=https://web.archive.org/web/20181225202404/https://www.business-standard.com/article/opinion/lunch-with-bs-shikha-sharma-110021600095_1.html |url-status=live }}</ref>
==Career==
=== ICICI Group === After graduating from IIM Ahmedabad, Shikha Sharma joined ICICI Ltd. in 1980. During her 29-year tenure with the group, she worked with K. V. Kamath and former Prudential plc CEO Mark Tucker.<ref name=":4" />
She was instrumental in setting up ICICI Securities – a joint venture between ICICI and J.P. Morgan, besides setting up various group businesses for ICICI, including investment banking and retail finance. She also launched a "micro-insurance" product that offered life insurance at just $1 a month.<ref name=":7">{{Cite web |title=46. Shikha Sharma |url=https://www.ft.com/content/8cf5382c-0b35-11e1-ae56-00144feabdc0 |access-date=2024-01-16 |website=www.ft.com |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116224554/https://www.ft.com/content/8cf5382c-0b35-11e1-ae56-00144feabdc0 |url-status=live }}</ref> She served as the managing director and CEO of ICICI Personal Financial Services from May 1998 to December 2000; and as the managing director and CEO of the ICICI Prudential Life Insurance Company from December 2000 to June 2009.<ref>{{Cite web |date=30 August 2011 |title=The Axis Bank MD and CEO's achievements are formidable |url=http://www.businesstoday.in/special/most-powerful-women-in-business-2011-shikha-sharma/story/18322.html |access-date=2016-02-09 |website=www.businesstoday.in |archive-date=25 December 2018 |archive-url=https://web.archive.org/web/20181225202328/https://www.businesstoday.in/magazine/special/most-powerful-women-in-business-2011-shikha-sharma/story/18322.html |url-status=live }}</ref><ref name=":6">{{Cite web |date=2022-04-01 |title=Piramal Enterprises appoints ex-Axis Bank MD Shikha Sharma as independent director |url=https://www.businesstoday.in/latest/corporate/story/piramal-enterprises-appoints-ex-axis-bank-md-shikha-sharma-as-independent-director-328278-2022-04-01 |access-date=2024-01-16 |website=Business Today |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116220758/https://www.businesstoday.in/latest/corporate/story/piramal-enterprises-appoints-ex-axis-bank-md-shikha-sharma-as-independent-director-328278-2022-04-01 |url-status=live }}</ref>
Sharma and Chanda Kochhar were contenders to succeed K. V. Kamath as the CEO and managing director of ICICI Bank in 2009.<ref>{{Cite web |title=Chanda Kochhar, First Woman CEO of ICICI Bank, India's Largest Pvt Bank: Challenges of Succession |url=https://www.thecasecentre.org/products/view?id=92262 |access-date=2024-01-16 |website=The Case Centre |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211626/https://www.thecasecentre.org/products/view?id=92262 |url-status=live }}</ref> One month after Kochhar's appointment as CEO, Sharma quit ICICI Bank to lead Axis Bank after being headhunted by Egon Zehnder.<ref name=":4" /><ref name=":1">{{Cite web |last=Anand |first=Nupur |date=2018-10-05 |title=India's top bankers would want 2018 to end. Now |url=https://qz.com/india/1414468/icici-banks-chanda-kochhar-axiss-shikha-sharma-quit-in-2018 |access-date=2024-01-16 |website=Quartz |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211625/https://qz.com/india/1414468/icici-banks-chanda-kochhar-axiss-shikha-sharma-quit-in-2018 |url-status=live }}</ref> In a 2014 interview with Tamal Bandyopadhyay, she described her relationship with Kochhar as "We were not friends but had healthy respect for each other."
=== Axis Bank === Sharma's appointment as managing director and CEO for a five-year term was confirmed by shareholders on 1 June 2009 with immediate effect. She succeeded P. J. Nayak as its chairman and CEO.<ref>{{Cite web |date=2009-06-01 |title=Axis Bank appoints Shikha Sharma as MD, splits post of CMD |url=https://www.hindustantimes.com/india/axis-bank-appoints-shikha-sharma-as-md-splits-post-of-cmd/story-OafuKm7mjDsp6mXPakm00O.html |access-date=2024-01-16 |website=Hindustan Times |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116223253/https://www.hindustantimes.com/india/axis-bank-appoints-shikha-sharma-as-md-splits-post-of-cmd/story-OafuKm7mjDsp6mXPakm00O.html |url-status=live }}</ref> She strengthened Axis Bank's retail banking division, allowing it to be relatively insulated from the economic downturn, and moving away from being predominantly being a corporate lender.<ref name=":0" /><ref name=":1" /> In June 2009, she stated the "Vision 2015" strategy for the bank, focusing growing retail banking to "balance the corporate business."<ref name=":4" /> The share retail loans to 46% of the bank's total books during her tenure, from 21% in June 2009.<ref name=":0" />
In November 2010, Axis Bank announced the acquisition investment bank Enam Security in an all-stock deal valued {{INRConvert|2067|c|year=2010}}.<ref>{{Cite news |date=21 January 2013 |title=Axis buys Enam Sec in Rs 2,067-cr deal |url=https://www.business-standard.com/article/finance/axis-buys-enam-sec-in-rs-2-067-cr-deal-110111800007_1.html |access-date=16 January 2024 |work=Business Standard |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211626/https://www.business-standard.com/article/finance/axis-buys-enam-sec-in-rs-2-067-cr-deal-110111800007_1.html |url-status=live }}</ref><ref>{{Cite news |date=2011-09-17 |title=Axis Bank board approves Enam Securities acquisition; stock deal worth Rs 1,546 crore |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-board-approves-enam-securities-acquisition-stock-deal-worth-rs-1546-crore/articleshow/10013641.cms?from=mdr |access-date=2024-01-16 |work=The Economic Times |issn=0013-0389 |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211626/https://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-board-approves-enam-securities-acquisition-stock-deal-worth-rs-1546-crore/articleshow/10013641.cms?from=mdr |url-status=live }}</ref> The bank's stock lost 5% the following date as analysts evaluated the deal to be overpriced.<ref name=":4" /> In April 2012, Axis Bank announced the closure of the deal after cutting the value to one-third to "reflect market conditions."<ref name=":2">{{Cite web |last=Rebello |first=Joel |date=2012-04-28 |title=Axis Bank cuts Enam deal value by one-third |url=https://www.livemint.com/Companies/9tmfB0PAF1HFlVreEORWAM/Axis-Bank-cuts-Enam-deal-value-by-onethird.html |access-date=2024-01-16 |website=mint |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211628/https://www.livemint.com/Companies/9tmfB0PAF1HFlVreEORWAM/Axis-Bank-cuts-Enam-deal-value-by-onethird.html |url-status=live }}</ref> The bank also announced that it had reached an agreement with Schroder Singapore Holdings, a subsidiary of Schroders to sell a 25 per cent stake in its mutual fund subsidiary Axis Asset Management Co. Ltd. (Axis AMC).<ref name=":2" /> In 2011, Axis Bank UK was incorporated as a subsidiary of the bank.<ref name=":7" />
She received a salary hike of 10 per cent in June 2013, with a basic pay of {{INRConvert|1.96|c|lk=off|year=2013}}. Axis Bank stock had gained over 90% since her appointment in June 2009.<ref>{{cite news |date=16 May 2013 |title=Shikha Sharma gets a salary hike |url=http://www.business-standard.com/article/companies/shikha-sharma-gets-a-salary-hike-113051600522_1.html |accessdate=27 January 2014 |newspaper=Business Standard |archive-date=25 December 2018 |archive-url=https://web.archive.org/web/20181225202338/https://www.business-standard.com/article/companies/shikha-sharma-gets-a-salary-hike-113051600522_1.html |url-status=live }}</ref> The bank's compounded annual net profit growth rate was above 20 per cent in the three years ending 2014–15. The bank's net non-performing asset ratio was 1.34 per cent in March 2015, much lower than the 4.4 per cent for the banking sector as a whole. Net profit in 2015-16 rose 18.3 per cent to {{INRConvert|7,358|c|lk=off|year=2016}}, operating profit was up 24 per cent to {{INRConvert|3,582|c|lk=off|year=2016}}, while net interest income grew 19 per cent to {{INRConvert|14,224|c|lk=off|year=2016}}. Advances grew 22 per cent and deposits were up 15 per cent during the year, both higher than the industry. The share of low-cost current account savings account (CASA) deposits remained stable at 45 per cent, a high ratio.<ref>{{Cite news |date=6 January 2016 |title=A new template for success |url=http://www.business-standard.com/article/finance/a-new-template-for-success-116010601294_1.html |access-date=2016-02-09 |newspaper=Business Standard India |archive-date=25 December 2018 |archive-url=https://web.archive.org/web/20181225202358/https://www.business-standard.com/article/finance/a-new-template-for-success-116010601294_1.html |url-status=live }}</ref> In February 2016, Axis Bank continued its international expansion and opened a representative office in Dhaka.<ref>{{Cite news |date=2015-11-22 |title=Axis Bank enters Bangladesh, opens representative office in Dhaka |url=http://www.thehindu.com/business/axis-bank-opens-representative-office-in-dhaka/article7905464.ece |access-date=2016-02-09 |newspaper=The Hindu |language=en-IN |issn=0971-751X |archive-date=25 December 2018 |archive-url=https://web.archive.org/web/20181225202329/https://www.thehindu.com/business/axis-bank-opens-representative-office-in-dhaka/article7905464.ece |url-status=live }}</ref>
Axis Bank was ranked among the best companies to work for in a 2013 survey by ''Business Today''.<ref>{{Cite web |date=2013-07-20 |title=Why Axis Bank is among the best companies to work for |url=https://www.businesstoday.in/magazine/cover-story/story/best-companies-to-work-for-axis-bank-132288-2013-07-20 |access-date=2024-01-16 |website=Business Today |language=en}}</ref> ''Harvard Business Review'' published a case study on the bank titled 'Managing Change at Axis Bank' on 28 March 2014.<ref>{{Cite journal |last=Case Study |first=HBR |date=March 28, 2014 |title=Managing Change at Axis Bank |url=https://hbr.org/product/managing-change-at-axis-bank-a/114082-PDF-ENG |journal=Harvard Business Review |archive-date=16 February 2016 |access-date=9 February 2016 |archive-url=https://web.archive.org/web/20160216050834/https://hbr.org/product/managing-change-at-axis-bank-a/114082-PDF-ENG |url-status=live }}</ref> In 2014, Axis Bank was awarded the "Bank of the Year in India" by ''The Banker''.<ref name=":5">{{Cite web |last= |first= |date=28 November 2014 |title=Bank of the Year Awards 2014 – Asia-Pacific |url=https://www.thebanker.com/Awards/Bank-of-the-Year-Awards/Bank-of-the-Year-Awards-2014-Asia-Pacific |access-date=2024-01-16 |website=www.thebanker.com |language=en-GB |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116215418/https://www.thebanker.com/Awards/Bank-of-the-Year-Awards/Bank-of-the-Year-Awards-2014-Asia-Pacific |url-status=live }}</ref> The citation noted that the bank had a "20% growth in profit after tax during the 2014 financial year while hitting $1bn profit after tax for the first time in its history" despite a liquidity crunch in India.<ref name=":5" /> In 2015, the bank was awarded a "Certificate of Recognition for excellence in Corporate Governance" from the Institute of Company Secretaries of India.<ref>{{Cite news |title=Axis Bank receives Certificate of Recognition for excellence in Corporate Governance by the Institute of Company Secretaries of India (ICSI) |url=https://www.icsi.edu/Docs/Website/PRESS%20RELEASE%20FOR%20CORPORATE%20GOVERNANCE%20AWARD.pdf |archive-date=15 February 2017 |access-date=9 February 2016 |archive-url=https://web.archive.org/web/20170215072841/https://www.icsi.edu/Docs/Website/PRESS%20RELEASE%20FOR%20CORPORATE%20GOVERNANCE%20AWARD.pdf |url-status=live }}</ref> It was also ranked the "Most Trusted Private Sector Bank" for the second year in a row in a 2015 survey conducted by ''The Economic Times''.<ref>{{Cite web |title=Most trusted brands ranked by category |url=http://articles.economictimes.indiatimes.com/2014-10-22/news/55318977_1_private-sector-banks-trusted-brands-psu-banks |archive-url=https://web.archive.org/web/20150706002446/http://articles.economictimes.indiatimes.com/2014-10-22/news/55318977_1_private-sector-banks-trusted-brands-psu-banks |url-status=dead |archive-date=6 July 2015 |access-date=2016-02-09 |website=timesofindia-economictimes}}</ref>
Gross NPAs steadily grew under her tenure, from 0.96% in March 2009 to 5.28% in March 2017 to 6.77% in March 2018.<ref name=":1" /><ref name=":3">{{Cite web |last=Anand |first=Nupur |date=2018-04-10 |title=What went wrong at Axis Bank under Shikha Sharma's watch |url=https://qz.com/india/1248494/axis-bank-what-went-wrong-under-shikha-sharmas-watch |access-date=2024-01-16 |website=Quartz |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211625/https://qz.com/india/1248494/axis-bank-what-went-wrong-under-shikha-sharmas-watch |url-status=live }}</ref> Axis Bank was twice pulled up by the Reserve Bank of India, in 2016 and 2017, for under-reporting bad loans. In 2016, there was a reported difference of {{INRConvert|9,480|c|lk=off|year=2016}} between Axis Bank and the RBI's assessments. In 2017, the reported divergence stood at {{INRConvert|5,633|c|lk=off|year=2017}}.<ref name=":3" /> In April 2016, Axis Bank reported its first loss in 46 quarters.<ref>{{Cite web |last=Iyer |first=Aparna |date=2016-04-26 |title=Q4 results: Axis Bank profit falls for the first time in 46 quarters as provisions jump |url=https://www.livemint.com/Companies/LlwW49im93N1GmvPrUm64H/Q4-results-Axis-Bank-profit-falls-for-the-first-time-in-46.html |access-date=2024-01-16 |website=mint |language=en}}</ref> Earnings remained below analyst expectations through to December 2017.<ref>{{Cite news |last=Rebello |first=Joel |date=2018-01-23 |title=Net NPAs down, Axis says worst over on fresh stress |url=https://economictimes.indiatimes.com/markets/stocks/earnings/axis-bank-reports-25-growth-in-net-profit-yoy-in-q3/articleshow/62603476.cms |access-date=2024-01-16 |work=The Economic Times |issn=0013-0389 |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211625/https://economictimes.indiatimes.com/markets/stocks/earnings/axis-bank-reports-25-growth-in-net-profit-yoy-in-q3/articleshow/62603476.cms |url-status=live }}</ref> Axis Bank stock lost over 7% in value from 2014 to 2017.<ref name=":3" /><ref>{{Cite web |title=Stock Share Price {{!}} Get Quote {{!}} BSE |url=https://www.bseindia.com/stock-share-price/axis-bank-ltd/axisbank/532215/ |access-date=2024-01-16 |website=www.bseindia.com |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211625/https://www.bseindia.com/stock-share-price/axis-bank-ltd/axisbank/532215/ |url-status=live }}</ref> In 2014, Sharma had refuted the allegations that the bank had been "hiding" its bad loans, saying that the Institute of Chartered Accountants of India had awarded the bank for its excellent financial reporting the previous three years but conceded that the bank's high exposure to infrastructure projects had given analysts a "legitimate worry."<ref name=":4" />
In November 2016, in the aftermath of the 2016 Indian banknote demonetisation, 19 Axis Bank employees were suspended by violating banks norms and alleged money laundering after a series of Income Tax Department raids at several branches.<ref name=":3" /> The RBI stepped in quell rumours that the bank would lose its banking license.<ref>{{Cite web |last=Karnik |first=Madhura |date=2016-12-16 |title=From reputation to market value, this Indian bank has lost a lot post-demonetisation |url=https://qz.com/india/863948/axis-bank-from-reputation-to-market-value-this-indian-bank-has-lost-a-lot-post-demonetisation |access-date=2024-01-16 |website=Quartz |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211626/https://qz.com/india/863948/axis-bank-from-reputation-to-market-value-this-indian-bank-has-lost-a-lot-post-demonetisation |url-status=live }}</ref> Sharma announced in December that the bank had hired KPMG to conduct a forensic audit and vowed to "enhance due diligence and build more safeguards."<ref>{{Cite web |date=2016-12-18 |title=Axis Bank MD Shikha Sharma 'embarrassed and upset' over conduct of few employees |url=https://www.indiatvnews.com/business/india-axis-bank-md-shikha-sharma-embarrassed-and-upset-over-conduct-of-few-employees-361441 |access-date=2024-01-16 |website=www.indiatvnews.com |language=en}}</ref>
In July 2017, Axis Bank squashed rumours that Sharma would be joining the Tata Group and announced a three-year extension to her term as CEO.<ref>{{Cite web |date=2017-07-27 |title=Axis scotches rumours on CEO Shikha Sharma, reappoints her for 3 more yrs |url=https://www.deccanchronicle.com/business/companies/270717/axis-scotches-rumours-on-shikha-reappoints-her-for-3-more-yrs.html |access-date=2024-01-16 |website=Deccan Chronicle |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116224554/https://www.deccanchronicle.com/business/companies/270717/axis-scotches-rumours-on-shikha-reappoints-her-for-3-more-yrs.html |url-status=live }}</ref><ref>{{Cite news |date=2017-07-25 |title=Axis Bank rubbishes report of leadership change, says Shikha Sharma not joining Tata Group |url=https://economictimes.indiatimes.com/news/company/corporate-trends/axis-bank-rubbishes-report-of-leadership-change-says-shikha-sharma-not-joining-tata-group/articleshow/59754943.cms |access-date=2024-01-16 |work=The Economic Times |issn=0013-0389 |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116230059/https://economictimes.indiatimes.com/news/company/corporate-trends/axis-bank-rubbishes-report-of-leadership-change-says-shikha-sharma-not-joining-tata-group/articleshow/59754943.cms |url-status=live }}</ref><ref>{{Cite news |date=27 July 2017 |title=India's Axis Bank approves re-appointment of Shikha Sharma as CEO |url=https://www.reuters.com/article/brief-indias-axis-bank-approves-re-appoi-idUSFWN1KI0S9/ |access-date=16 January 2024 |work=Reuters |archive-date=17 May 2021 |archive-url=https://web.archive.org/web/20210517161556/https://www.reuters.com/article/brief-indias-axis-bank-approves-re-appoi-idUSFWN1KI0S9 |url-status=live }}</ref> In December 2017, the Securities and Exchange Board of India ordered the bank to investigate allegations of insider trading against its officers after reports that earnings statements were being shared on WhatsApp before they had been reported to exchanges.<ref>{{Cite news |last=Choudhary |first=Shrimi |date=28 December 2017 |title=WhatsApp leak case: Sebi orders Axis Bank to conduct internal probe |url=https://www.business-standard.com/article/finance/whatsapp-leak-case-sebi-orders-axis-bank-to-conduct-internal-probe-117122701032_1.html |access-date=16 January 2024 |work=Business Standard |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211625/https://www.business-standard.com/article/finance/whatsapp-leak-case-sebi-orders-axis-bank-to-conduct-internal-probe-117122701032_1.html |url-status=live }}</ref>
Axis Bank notified the National Stock Exchange of India on 9 April 2018 that Sharma would retire as the managing director and CEO on 31 December 2018.<ref name=":1" /><ref>{{Cite web |date=2018-04-09 |title=After RBI raises doubts, Shikha Sharma to quit Axis Bank in December |url=https://www.thehindubusinessline.com/news/after-rbi-raises-doubts-shikha-sharma-to-quit-axis-bank-in-dec/article23484341.ece |access-date=2024-01-16 |website=BusinessLine |language=en}}</ref> The announcement came despite the bank's board approving a three-year extension of her term, due to start on 1 June 2018, amid reports that the RBI was unhappy with the bank's performance and was reviewing the decision to approve the extension.<ref name=":3" /><ref>{{Cite news |last=Shukla |first=Saloni |last2=Kalesh |first2=Baiju |date=2018-04-02 |title=Reconsider Shikha Sharma's 4th term: RBI to Axis Board |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/reconsider-shikha-sharmas-4th-term-rbi-to-axis-board/articleshow/63573435.cms |access-date=2024-01-16 |work=The Economic Times |issn=0013-0389 |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116211625/https://economictimes.indiatimes.com/industry/banking/finance/banking/reconsider-shikha-sharmas-4th-term-rbi-to-axis-board/articleshow/63573435.cms |url-status=live }}</ref> The bank's shares rose by 3.44% in the Bombay Stock Exchange after the announcement of her retirement.<ref name=":0" /> She was succeeded by Amitabh Chaudhry on 1 January 2019.<ref>{{Cite news |date=21 January 2020 |title=Shikha Sharma retires as Axis Bank MD & CEO, Amitabh Chaudhry to succeed |url=https://www.business-standard.com/article/finance/axis-bank-md-ceo-shikha-sharma-retires-118123100873_1.html |access-date=16 January 2024 |work=Business Standard |archive-date=22 June 2024 |archive-url=https://web.archive.org/web/20240622134300/https://www.business-standard.com/article/finance/axis-bank-md-ceo-shikha-sharma-retires-118123100873_1.html |url-status=live }}</ref><ref>{{Cite news |title=Axis Bank MD & CEO Shikha Sharma retires |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-md-ceo-shikha-sharma-retires/articleshow/67327645.cms |newspaper=The Economic Times |archive-date=3 January 2019 |access-date=3 January 2019 |archive-url=https://web.archive.org/web/20190103161248/https://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-md-ceo-shikha-sharma-retires/articleshow/67327645.cms |url-status=live }}</ref>
=== Other appointments === Piramal Enterprises announced on 1 April 2022 that it had appointed Shikha Sharma as a 'Non-Executive-Non-Independent Director' with effect from 31 March subject to approval by shareholders. Sharma also serves on the boards of Tata Consumer Products, Ambuja Cements, Mahindra & Mahindra and Dr. Reddy's Laboratories.<ref>{{Cite web |title=Ms. Shikha Sharma {{!}} Mahindra |url=https://www.mahindra.com/shikha-sharma |access-date=2024-01-16 |website=www.mahindra.com |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116222808/https://www.mahindra.com/shikha-sharma |url-status=live }}</ref><ref>{{Cite news |date=2019-01-31 |title=Shikha Sharma made independent director of Dr. Reddy's |url=https://www.thehindu.com/business/shikha-sharma-made-independent-director-of-drreddys/article26142301.ece |access-date=2024-01-16 |work=The Hindu |language=en-IN |issn=0971-751X |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116224554/https://www.thehindu.com/business/shikha-sharma-made-independent-director-of-drreddys/article26142301.ece |url-status=live }}</ref> She also serves as an advisor to Google Pay, NextBillion Technology, Bahaar Foundation and is a member of the board of governors of Indian Institute of Management Lucknow.<ref name=":6" /><ref>{{Cite web |title=Google Pay has brought former Axis Bank CEO Shikha Sharma as an advisor on board |url=https://www.businessinsider.in/business/news/google-pay-has-brought-former-axis-bank-ceo-shikha-sharma-as-an-advisor-on-board/articleshow/75471250.cms |access-date=2024-01-16 |website=Business Insider |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116224557/https://www.businessinsider.in/business/news/google-pay-has-brought-former-axis-bank-ceo-shikha-sharma-as-an-advisor-on-board/articleshow/75471250.cms |url-status=live }}</ref><ref>{{Cite web |last=Network |first=BFSI |date=2020-05-01 |title=Former Axis Bank chief Shikha Sharma named advisor to Google Pay India |url=https://bfsi.eletsonline.com/former-axis-bank-chief-shikha-sharma-named-advisor-to-google-pay-india/ |access-date=2024-01-16 |website=Elets BFSI |language=en-GB}}</ref>
==Personal life==
Shikha met and married her husband Sanjaya Sharma while they were students at IIM Ahmedabad in 1978.<ref name=":4" /> Sanjaya is the former CEO of Tata Interactive Systems. The couple have two children, Tilak and Tvisha.<ref>{{cite news|title=Head to head!|url=http://www.dnaindia.com/lifestyle/report-head-to-head-1269059|accessdate=27 January 2014|newspaper=DNA|date=27 June 2007|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225202353/https://www.dnaindia.com/lifestyle/report-head-to-head-1269059|url-status=live}}</ref> Sharma has two younger brothers who are cardiologists.{{Citation needed|date=September 2023}}
In February 2023, the couple sold their 4390 sq. ft apartment in The Imperial to 2015 Grover Family Trust for {{INRConvert|32.25|c|lk=off|year=2023}}.<ref>{{Cite web |date=2023-02-08 |title=Former Axis Bank MD and CEO Shikha Sharma sells property in Mumbai for Rs 32.25 crore |url=https://www.moneycontrol.com/news/business/real-estate/former-axis-bank-md-and-ceo-shikha-sharma-sells-property-in-mumbai-for-rs-32-25-crore-10034301.html |access-date=2024-01-16 |website=Moneycontrol |language=en |archive-date=16 January 2024 |archive-url=https://web.archive.org/web/20240116220758/https://www.moneycontrol.com/news/business/real-estate/former-axis-bank-md-and-ceo-shikha-sharma-sells-property-in-mumbai-for-rs-32-25-crore-10034301.html |url-status=live }}</ref>
==Awards and recognition== * "Best Domestic Bank in India" (2010) by Asset Triple A Country Awards<ref name=":7" /> * 'Banker of the Year' for 2014–15 by ''Business Standard''<ref>{{Cite news|title = BS Banker of the Year is Shikha Sharma|newspaper = Business Standard India|date = 7 January 2016|url = http://www.business-standard.com/article/finance/bs-banker-of-the-year-is-shikha-sharma-116010700053_1.html|access-date = 2016-02-09|archive-date = 25 December 2018|archive-url = https://web.archive.org/web/20181225202345/https://www.business-standard.com/article/finance/bs-banker-of-the-year-is-shikha-sharma-116010700053_1.html|url-status = live}}</ref> * AIMA - J. R. D. Tata Corporate Leadership Award for the Year 2014<ref>{{Cite web|title = AIMA - JRD TATA Corporate Leadership Award 2014|url = https://www.aima.in/conferences-events/awards/aima-jrd-tata-corporate-leadership-award.html|website = www.aima.in|access-date = 2016-02-09|archive-date = 25 December 2018|archive-url = https://web.archive.org/web/20181225202341/https://www.aima.in/conferences-events/awards/aima-jrd-tata-corporate-leadership-award.html|url-status = dead}}</ref> * 'India's Best Woman CEO' by Business Today – 2013<ref>{{Cite web|title = Business Today listing of India's Best CEOs in 2013|url = http://www.businesstoday.in/cover-story/best-ceos-of-india-inc-2013-business-today-survey/story/201299.html|website = www.businesstoday.in|date = 17 December 2013|access-date = 2016-02-09|archive-date = 25 December 2018|archive-url = https://web.archive.org/web/20181225202352/https://www.businesstoday.in/magazine/cover-story/best-ceos-of-india-inc-2013-business-today-survey/story/201299.html|url-status = live}}</ref> * 'Transformational Business Leader of the Year' at AIMA's Managing India Awards – 2012<ref>{{cite news|title=AIMA acknowledges the excellence of India|url=http://www.aima.in/media-centre/press-releases/aima_acknowledges_the_excellence_of_india.html|accessdate=27 January 2014|newspaper=All India Management Association|date=18 April 2012|url-status=dead|archive-url=https://web.archive.org/web/20140202195740/http://www.aima.in/media-centre/press-releases/aima_acknowledges_the_excellence_of_india.html|archive-date=2 February 2014|df=dmy-all}}</ref> * Woman Leader of the year' at Bloomberg - UTV Financial Leadership Awards – 2012<ref>{{cite news|title=BloombergUTV honours India's financial leaders and visionaries|url=http://www.afaqs.com/news/company_briefs/index.html?id=53715_BloombergUTV-honours-Indias-financial-leaders-and-visionaries|accessdate=27 January 2014|newspaper=afaqs.com|date=10 April 2012|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225202355/https://www.afaqs.com/news/company_briefs/index.html?id=53715_BloombergUTV-honours-Indias-financial-leaders-and-visionaries|url-status=live}}</ref> * ''Businessworld'' Banker of the Year Award – 2012<ref>{{cite news|title=MAGNA AWARDS 2012|url=http://www.businessworld.in/news/more/bw-events/people-to-bank-on/718040/page-1.html|accessdate=27 January 2014|newspaper=Business World|date=8 January 2013|url-status=dead|archive-url=https://web.archive.org/web/20140204023929/http://www.businessworld.in/news/more/bw-events/people-to-bank-on/718040/page-1.html|archive-date=4 February 2014|df=dmy-all}}</ref> * Forbes List of Asia's 50 Power Business Women – 2012<ref>{{cite news|title=Asia's Women In The Mix, 2013: The Year's Top 50 for Achievement In Business|url=https://www.forbes.com/sites/forbesasia/2013/02/27/asias-women-in-the-mix-2013-the-years-top-50-for-achievement-in-business/|accessdate=27 January 2014|newspaper=Forbes|date=27 February 2013|archive-date=17 January 2014|archive-url=https://web.archive.org/web/20140117222127/http://www.forbes.com/sites/forbesasia/2013/02/27/asias-women-in-the-mix-2013-the-years-top-50-for-achievement-in-business/|url-status=live}}</ref> * Indian Express Most Powerful Indians – 2012<ref>{{cite news|title=Most Powerful Women|url=http://btmostpowerfulwomen.com/2013/shikha-sharma.html|accessdate=27 January 2014|newspaper=Business Today|date=August 2013|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225202336/http://btmostpowerfulwomen.com/2013/shikha-sharma.html|url-status=live}}</ref> * India Today Power List of 25 Most Influential Women – 2012<ref>{{cite news|title=25 power women and their inspiring stories|url=https://www.indiatoday.in/magazine/supplement/story/20120319-25-most-influential-women-vidya-balan-kareena-kapoor-757654-2012-03-08|access-date=27 January 2014|newspaper=India Today|date=9 May 2012|archive-date=17 September 2012|archive-url=https://web.archive.org/web/20120917084351/http://indiatoday.intoday.in/story/25-most-influential-women-vidya-balan-kareena-kapoor/1/177016.html|url-status=live}}</ref> * Finance Asia's Top 20 Women in Finance – 2011<ref name="auto">{{cite news|title=Shikha Sharma|url=http://www.nasscom.in/sites/default/files/Speakers/Shikha%20Sharma%20-%20Final_0.pdf|accessdate=27 January 2014|newspaper=NASSCOM|year=2012|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225202321/https://www.nasscom.in/sites/default/files/Speakers/Shikha%20Sharma%20-%20Final_0.pdf|url-status=dead}}</ref> * Business Today 'Hall of Fame' – 2011<ref name="auto"/> * Fortune Global and India list of 50 Most Powerful Women in Business – 2011<ref name="auto"/> * Businesswoman of the Year at the Economic Times Awards – 2008<ref name="auto"/> * Entrepreneur of the Year – Manager at the E&Y Entrepreneur Awards – 2007<ref name="auto"/> * Outstanding Businesswoman of the Year, CNBC TV 18's Business Leader Awards<ref name="auto"/>
==References== {{Reflist}}
==External links== * [http://www.axisbank.com/media-center/executive-team.aspx Axis Bank board of directors]
{{DEFAULTSORT:Sharma, Shikha}} Category:Indian women bankers Category:Living people Category:Indian women chief executives Category:Indian chief executives Category:Lady Shri Ram College alumni Category:Indian Institute of Management Ahmedabad alumni Category:1958 births Category:Businesspeople from Delhi Category:Businesswomen from Delhi Category:20th-century Indian businesswomen Category:20th-century Indian businesspeople Category:21st-century Indian businesswomen Category:21st-century Indian businesspeople Category:Axis Bank