Axis Bank: The Succession Planning Fiasco

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Case Details:
Case Code : HROB122
Case Length : 26 pages
Period : 2004-2009
Pub Date : 2009
Teaching Note :Not Available
Organization : Axis Bank
Industry : Banking
Countries : India

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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An Unexpected Departure? Contd...

According to him, Axis Bank had been doing well and as such, it should be an insider who would succeed him.

Voting was done on the issue and all the eight directors of the Axis Bank board other than Nayak voted in favor of Sharma's appointment. This prompted Nayak to quit well before his tenure was to end.

Nayak was appointed the CMD of Axis Bank on January 1, 2000. Industry observers and the board of Axis Bank credited him with taking the bank to a strong position. However, problems between the board of Axis Bank and Nayak had been brewing for quite a while.

Human Resource and Organization Behavior | Case Study in Management, Operations, Strategies, Human Resource and Organization Behavior, Case Studies

In December 2004, he threatened to quit the organization after the bank decided to split the posts of CMD to be in line with the ruling of the Reserve Bank of India⁵ (RBI). The RBI had insisted on the posts being split to ensure better corporate governance. Moreover, splitting of posts was a first step in the direction of finding a successor, according to the RBI...

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5] The Reserve Bank of India (RBI) is the central bank of India and regulates the Indian banking sector.

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