Chanda Kochhar Steps Down As Managing Director, CEO Of ICICI Bank

ICICI Bank Managing Director Chanda Kochhar has resigned from the bank, the lender said in a regulatory filing today. The board of the bank has accepted the request of Ms Kochhar 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," ICICI Bank said today.

The board has decided to appoint Sandeep Bakhshi Managing Director and Chief Executive Officer.

His appointment will be for a period of five years until October 3, 2023, subject to approvals.