ICICI Bank CEO Chanda Kochhar quits and Bakhshi takes over
Chanda Kochhar, the MD and CEO of ICICI Bank, private sector lender, quit her position. This is after the bank’s appointment of a Srikrishna committee which is headed by Justice B.N. Srikrishna (retd.). The committee was to look into the allegations of conflict of interest against Ms.Kochhar. The committee is yet to officially submit its findings to the bank’s board. She had gone on leave after the committee was formed.
The bank has now named Sandeep Bakhshi as the new MD & CEO and handed him a five-year term till October 3, 2023. The appointment is subject to regulatory approvals.