Chanda Kochhar quits CEO & MD, ICICI Bank: Sandeep Bakshi succeeds Kochhar

Banking National News

Chief Executive Officer (CEO) and Managing Director, ICICI Bank, quits on 04th October, 2018 after her request for early retirement has been accepted by the bank.   Bank has appointed, Sandeep Bakshi, (who was the bank’s COO) as Chief Executive Officer and Managing Director. Chanda Kochar led the bank as Chief Financial officer (CFO) & Joint Managing Director since 2007.   Her term as CEO and MD of the bank was due to end in March 2019.   Earlier she was sent on forced leave amidst conflicts of interest against her related to Videocon bad loans case.   However,  bank clarified that the enquiry instituted by the Board will remain unaffected and her post retirement benefits would be subject to the outcome of the inquiry.   The Central Bureau of Investigation (CBI) is probing the allegations made against the former CEO & MD.

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