Chanda Kochhar quits ICICI Bank with immediate effect

Oct 04, 2018, 14:17 IST | mid-day online desk

The board of the bank has accepted the request of Chanda Kochhar to seek early retirement

Chanda Kochhar quits ICICI Bank with immediate effect
Chanda Kochhar. Pic/PTI

New Delhi: ICICI Bank Managing Director Chanda Kochhar on Thursday has resigned from the bank with immediate effect. According to a regulatory filing, the board of the bank has accepted the request of Kochhar to seek early retirement.

"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.

The board has decided to appoint Sandeep Bakhshi as Managing Director and Chief Executive Officer. His appointment will be for a period of five years until October 3, 2023, subject to various approvals.

Edited by mid-day online desk with inputs from PTI

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