ICICI Bank has appointed former Petroleum Secretary Girish Chandra Chaturvedi as its non-executive chairman. ICICI Bank gave this information on Friday. ICICI Bank said in a statement that MK Sharma’s tenure ends on June 30, 2018. Chaturvedi’s appointment will be effective from July 1, 2018 for three years. The bank said, “The board of directors has approved appointment of Girish Chandra Chaturvedi as part-time non-executive chairman from July 1.”
It has been further said that this appointment will bring maturity and foresight in the discussion of the board of directors. Significantly, ICICI Bank is in the middle of investigation by various regulatory agencies in connection with the allegations of conflict of interest of its CEO Chanda Kochhar and members of her family in lending to some other companies including Videocon Group. The bank had earlier announced earlier this month that Chanda Kochhar has decided to stay on leave till the internal investigation is completed in the case.
Earlier, the bank had made Sandeep Bakshi the Chief Operating Officer (COO) on June 19. The bank also said that its CEO and Managing Director Chanda Kochhar will be on leave till the completion of internal check in Videocon loan case. She was earlier the Managing Director and Chief Executive Officer (CEO) of ICICI Prudential Life Insurance.
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