ICICI Bank MD & CEO Chanda Kochhar has announced her decision to leave the bank with immediate effect. The board of ICICI Bank — India’s largest private sector bank by assets — said it has accepted Chanda Kochhar’s request for early retirement. “The enquiry instituted by the Board will remain unaffected by this and certain benefits will be subject to the outcome of the enquiry. Ms Kochhar will also relinquish office from the Board of Directors of the Bank’s subsidiaries,” ICICI Bank said in a filing with the stock exchanges. Subsequently, ICICI Bank has appointed Sandeep Bakhshi as MD and CEO for five years, with effect from October 3. Further, the other terms and conditions of his appointment, such as his remuneration will remain unchaged, the bank said.
ICICI Bank MD & CEO Chanda Kochhar has announced her decision to leave the bank with immediate effect. The board of ICICI Bank — India’s largest private sector bank by assets — said it has accepted Chanda Kochhar’s request for early retirement. “The enquiry instituted by the Board will remain unaffected by this and certain benefits will be subject to the outcome of the enquiry. Ms Kochhar will also relinquish office from the Board of Directors of the Bank’s subsidiaries,” ICICI Bank said in a filing with the stock exchanges. Subsequently, ICICI Bank has appointed Sandeep Bakhshi as MD and CEO for five years, with effect from October 3. Further, the other terms and conditions of his appointment, such as his remuneration will remain unchaged, the bank said.
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