ICICI Bank appoints Mr K. V. Kamath as non-executive Chairman and Ms Chanda Kochhar as Managing Director & CEO effective May 1,2009
December 19, 2008: The Board has,subject to the approval of Reserve Bank of India (RBI)and the shareholders, decided to appoint M r. K. V. Kam ath, presently Managing Director& CEO, as non-executive Chairm an of the Board for a period of five years effective May 1, 2009.
The Board of Directors has appointed Ms. Chanda D. Kochhar, presently Joint Managing Director& Chief Financial Officer, as Managing Director & CEO of ICICI Bank from May 1, 2009 to March 31, 2014.
Mr. N. Vaghul, non-executive Chairman of the Board of Directors of ICICI Bank Limited would retire from the Board on completion of his current term on April 30,2009.
M s. Chanda Kochhar joined erstwhile ICICI Limited (ICICI) in 1984 and was elevated to the Board of Directors of ICICI Bank in 2001. During her career prior to becom ing a member of the Board, she worked and held leadership positions across all
key businesses, including corporate banking, project finance and retail banking. She was instrumental in establishing ICICI Bank during the 1990s, and subsequently headed the infrastructure finance and major clients groups in ICICI.
In 2000, she took on the challenge of building the nascent retail business, with strong focus on technology, innovation, process reengineering and expansion of distribution and scale. The Bank achieved a leadership position in this business. She successfuly managed the integration ofthe retailfranchises ofICICI and ICICI Bank, as well as of other acquisitions. During 2006-2007, she successfuly led the Bank’s wholesale and international banking businesses during a period of heightened activity and global expansion by Indian companies. Since 2007, she has been heading the Corporate Centre, responsible for ensuring strategic consistency across the Group.
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