CEO Chanda Kochhar quits ICICI Bank, succeeded by Sandeep Bakhshi

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CEO Chanda Kochhar quits ICICI Bank, succeeded by Sandeep Bakhshi
CEO Chanda Kochhar quits ICICI Bank, succeeded by Sandeep Bakhshi

Mumbai: ICICI Bank said on Thursday that its CEO, Chanda Kochhar, has quit the company.

“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 bank said in a regulatory filing on Thursday.

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Sandeep Bakhshi has been appointed as the new Managing Director and Chief Executive Officer of ICICI bank . His appointment will be for a period of five years until October 3, 2023, subject to various approvals.

It is to be mentioned that Ms Kochhar was earlier sent on forced leave following an independent investigation against her in a case of her husband being a beneficiary of loans from the bank’s borrowers.

The Central Bureau of Investigation (CBI) is probing into allegations that the her husband Deepak Kochhar’s company ‘NuPower Renewables’ received an investment from a ‘Videocon group company’ as a quid pro quo for a loan from the bank.

With IANS Inputs