Dr. Reddy’s, KKR Appoint Shikha Sharma As Independent Director
Shikha Sharma, CEO of Axis Bank Ltd. (Photograph: BloombergQuint)

Dr. Reddy’s, KKR Appoint Shikha Sharma As Independent Director

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Within a month of her demitting office as the head of Axis Bank, two entities - Dr. Reddy's Laboratories Ltd. and KKR on Thursday announced the appointment of Shikha Sharma in advisory role.

Sharma's stint was curtailed by the Reserve Bank of India for unspecified reasons and the third largest private sector lender is now headed by Amitabh Chaudhry.

Private equity major KKR said Sharma will serve as an advisor in its corporate and real estate-focused non-bank finance arm.

Sharma will advising them on areas for business growth, value-creation opportunities and strategic mergers and acquisitions, an official statement said.

"We will be able to benefit from Shikhas deep expertise and counsel...(her) experience will help us expand our presence in the financing sector and build on our NBFC's large equity base to meet the ongoing need for capital incorporate India," chief executive officer of KKR India, Sanjay Nayar said.

Pharma major Dr Reddy's Laboratories Ltd. said it appointed Sharma as an independent additional director for five years.

Sharma was the managing director and chief executive officer of Axis Bank between June 2009 and December 2018.

She has more than three decades of experience in the financial sector, having begun her career with ICICI Bank Ltd. in 1980. During her tenure with the ICICI group, she was instrumental in setting up ICICI Securities.

Interestingly, the appointments come the same day as Yes Bank's Rana Kapoor, another chief executive whose term was also cut short by the RBI, ends his tenure in the bank he founded.

It also comes a day after ICICI Bank virtually sacked Chanda Kochhar, one of Sharma's long-time colleagues before she moved to Axis Bank, for misconduct.

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