Board of Directors of ICICI Bank Limited, accept request of Chanda Kochhar to seek early retirement from Bank at earliest
Author(s): City Air NewsOutcome of the meeting of the Board of Directors of ICICI Bank held on October 4th 2018 The Board of Directors of ICICI Bank Limited, accepted the request of Ms Chanda Kochhar to seek early retirement from the Bank...
cityairnews
Oct 4, 2018 09:30
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Outcome of the meeting of the Board of Directors of ICICI Bank held on October 4th 2018
The Board of Directors of ICICI Bank Limited, accepted the request of Ms Chanda Kochhar to seek early retirement from the Bank at the earliest. The Board accepted this request with immediate effect. 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.
The Board decided to appoint Mr. Sandeep Bakhshi as Managing Director & Chief Executive Officer. His appointment will be for a period of five years until October 3, 2023, subject to regulatory and other approvals. The other terms and conditions of his appointment, such as remuneration, would remain unchanged.
Separately, due to health reasons Mr MD Mallya, Independent Director, resigned from the Board and the same was accepted.
