Axis Bank Limited has informed the Exchange regarding Change in Director(s) of the company.
AXISBANK · price
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Axis Bank has informed the exchanges that Prof. S. Mahendra Dev, an Independent Director, has resigned from the Board with effect from close of business hours on June 5, 2025. The reason for his exit is his appointment as Chairman of the Economic Advisory Council to the Prime Minister of India, which is a full-time government position. Prof. Dev confirmed there are no other material reasons for his resignation, and he does not hold directorship in any other listed entity. The Bank has placed on record its appreciation for his contributions during his tenure. The required disclosures under SEBI Listing Regulations have been attached.
This is a routine board change driven by a prestigious government appointment, with no governance concerns or red flags. It is unlikely to have any material impact on the stock price or shareholder interests, as the Bank's operations and board composition remain unaffected beyond filling one independent director vacancy.