The Board of Directors of ICICI Bank has approved the appointment of Girish Chandra Chaturvedi as non-executive part-time Chairman effective from July 1, 2018 subject to regulatory approvals, in the vacancy caused by cessation of term of M.K. Sharma (Independent Director & Chairman).
"This is to inform you that the Board of Directors of ICICI Bank at its Meeting held today appointed Mr. Girish Chandra Chaturvedi as an Additional (Independent) Director effective July 1, 2018 for a period of 3 years subject to the approval of shareholders. The term of office of M. K. Sharma expires on June 30, 2018," a regulatory filing by the lender in the BSE stated.
Private lending major ICICI Bank on June 18 announced the appointment of Sandeep Bakhshi as Whole time Director and Chief Operating Officer (COO) designate as its MD and CEO Chanda Kochhar decided "to go on leave till the completion of the inquiry" in relation to the allegations levelled against her.
Following Sandeep Bakhshi's appointment as ICICI Bank Chief Operating Officer on June 18, ICICI Bank on June 19 had appointed N.S. Kannan as the Managing Director and Chief Executive Officer (CEO) of ICICI Prudential Life Insurance Company, "subject to regulatory and other approvals".