Ways2Capital Reviews : ICICI Bank Stock Slips 1%; Board Appoints Sandeep Bakhshi As Director And COO

ICICI Bank Ltd is currently trading at Rs289.90 down by Rs2.6 or 0.89% from its previous closing of Rs292.50 on the BSE.

The Board of Directors of ICICI Bank has appointed Sandeep Bakhshi, as Wholetime Director and Chief Operating Officer designate, ICICI Bank. 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.

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.

In line with the highest levels of governance and corporate standards, Ms. Chanda Kochhar has decided to go on leave till the completion of the enquiry as announced on May 30, 2018. The Board has noted and accepted this. During her period of leave, the COO will report to the Board.

Bakhshi has been the Managing Director & CEO, of ICICI Prudential Life Insurance Company, since August 01, 2010.

The scrip opened at Rs296.55 and has touched a high and low of Rs296.55 and Rs288.55 respectively.
 
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About Bhoomi Desai

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