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The MD & CEO of ICICI Bank Chanda Kochar has resigned from the bank's top post today. She is accused of conflict of interest over loans issued to Videocon Group, whose promoter had business links with her husband Deepak Kochhar.
The bank has appointed Sandeep Bakshi as it's new Managing Director and Chief Executive Officer (MD & CEO).
Bakhshi held the position of the COO of ICICI Bank. He was put at the helm by the board after it asked Kochhar to go an extended leave pending an internal investigation into charges of impropriety in her role in the Videocon loan case.
The appointment of Bakshi will be for a period of 5 years (until 3rd October 2023).
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