New Delhi | ICICI bank on Thursday confirmed that the bank has accepted the resignation of CEO and Managing Director Chanda Kochhar from her post.
According to the regulatory filing submitted in the Bombay Stock Exchange, the Bank has accepted Kochhar’s request of seeking early retirement from her post. The bank said,” 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.”
The bank has also announced that the board has also decided to appoint Sandeep Bakhshi as the new Managing Director & Chief Executive Officer. The appointment of Bakshi will be for a period of five years until October 3, 2023, subject to regulatory and other approvals. The bank also informed that other terms and conditions of his appointment, such as remuneration, would remain unchanged.
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