According to reports, ICICI Bank CEO Chanda Kochhar went on a leave and soon after Sandeep Bakhshi was announced as the whole-time director and chief operating officer (COO). Bakhshi who was the CEO of ICICI Prudential Life Insurance will continue as its non-executive director.
ICICI announced in a statement that Bakhshi will serve a period of five years and will have to report to the CEO. However, since Kochhar is on leave, he will be reporting to the bank's board. Kochhar who was caught in the Videocon loan case is reportedly now on her annual leave.
The statement reportedly said, "Mr 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. Mr Bakhshi will report to Ms Chanda Kochhar, who will continue in her role as MD & CEO of ICICI Bank."
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