Chanda Kochhar steps down as ICICI Bank MD & CEO

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Chanda Kochhar steps down as ICICI Bank MD & CEO

Dubai - Kochhar had led the bank since 2009 and her third term was due to end in March 2019.

By Staff Report

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Published: Thu 4 Oct 2018, 12:50 PM

Last updated: Thu 4 Oct 2018, 6:18 PM

Chanda Kochhar has stepped down as as the managing director and CEO of India's ICICI Bank with immediate effect, the bank informed bourses on Thursday.

The board of the bank has accepted Kochhar's request to seek early retirement, according to the regulatory filing.

"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 said.

Sandeep Bakhshi has been appointed the managing director and CEO.

Kochhar had led the bank since 2009 and her third term was due to end in March 2019.


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