AXIS Capital Holdings Limited, the holding company for AXIS group of companies announced that its MD & CEO Dharmesh Mehta has stepped down.
The bank also said that it has elevated Salil Pitale and Chirag Negandhi as Joint Managing Directors and Co-Chief Executive Officer with immediate effect.
“Dharmesh Mehta, MD & CEO of Axis Capital today submitted his resignation, having decided to pursue other interests,” the company said in a statement.
“The Board has decided to elevate Salil Pitale and Chirag Negandhi as Joint Managing Directors & Co-Chief Executive Officer” it added.
However, their elevation will be subject to requisite regulatory approvals.
Both of them currently Co-Head of Investment Banking at Axis Capital since 2016.
While, Pitale has been with Axis Capital and Axis Bank since 1999, and has led several sector practices for the investment bank, Negandhi is with Axis Capital since 2005.
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