Chanda Kochhar ‘to go on leave’, Bakhshi new COO: ICICI

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Chanda Kochhar. (File Photo)

Mumbai, June 18 (IANS) Private lending major ICICI Bank on Monday announced the appointment of Sandeep Bakhshi as Wholetime Director and Chief Operating Officer (COO) designate as its MD and CEO Chanda Kochhar decided “to go on leave till the completion of the inquiry” in relation to the allegations levelled against her.

Bakhshi, who is the MD & CEO of ICICI Prudential Life Insurance Company, since August 1, 2010, will report to the Board during the period of Kochhar’s leave.

“His appointment as COO will be for a period of five years, subject to regulatory approvals. He will take over as the COO from June 19, 2018, or on the date of regulatory and other approvals, whichever is later,” the bank said in a statement.

“Bakhshi will be responsible for handling all the businesses and corporate centre functions at the Bank. All Executive Directors on the Board of ICICI Bank and the executive management will report to him. Bakhshi will report to Chanda Kochhar, who will continue in her role as MD & CEO of ICICI Bank.”

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