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Axis Bank: The Succession Planning Fiasco |
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"I think those of us who have built the bank should be looked at for leadership in succession as well. But that viewpoint is seen as dogmatic... I feel very strongly that our people have built the bank and therefore, the succession must be from within." 1 - Pangal Jayendra Nayak (Nayak), ex-chairman and managing director, Axis Bank Ltd., in April 2009. "When we insisted that succession should be a planned move, if only he [Nayak] had listened to us and taken us into confidence about what he had in mind, we may well have supported his candidate. But to mandate a nominations committee to select a successor, to stay out of the process, and then insist at the last moment that we accept his view was not fair." 2 - A Director, Axis Bank board, in May 2009.
Axis Bank: The Succession Planning Fiasco - Next Page>>
1] George Smith Alexander, "People Who Built Bank Should Lead it," http://economictimes.indiatimes.com,April 22, 2009. |
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