Axis Bank has appointed Sanjiv Misra as non-executive chairman and independent director of the bank for a period of five years.Misra, a retired bureaucrat has been non-executive chairman of the bank as a nominee of Special Undertaking of UTI and he resigned from this post before being nominated again for the position. SUUTI had the right to appoint the chairman and three directors of the bank but this was rescined following the amendments to articles of association of the bank. Now the shareholders can appoint the chairman and directors of the bank. Misra, who was a finance secretary at the center, retired in 2008.The bank also promoted two senior executives – Rajiv Anand and Rajesh Dahiya – as executive directors (EDs) with berth on the board of directors. Anand was the group executive and head-retail banking, while Dahiya was group executive and head-Corporate Centre.
