Axis Bank's board mustn't feel even the slightest embarrassment for being so wrong for so long. In fact, it deserves a vote of thanks for helping to create possibly the biggest and juiciest takeover target in the history of Indian banking Rewind to last July. The Indian lender's board had just rewarded CEO Shikha Sharma with a fourth term -- until June 2021 -- even though she still had almost a year to run on her existing tenure. Ultimately, though, Sharma gave the board an out when she said she wanted to leave by June. From Bain, and -- should he succeed in buying it -- Uday Kotak, too.

Source: Economic Times April 11, 2018 09:00 UTC