Mumbai: The top deck at ICICI Bank could see more changes in the coming days as the tenure of chairman M.K. Sharma comes to an end this month.

Sharma has reportedly indicated he is not interested to continue as the chairman for another term. There is a buzz that former Bank of Baroda (BoB) chairman & managing director M.D. Mallya, who is already on the board of ICICI Bank, could replace Sharma. Reports also suggest a former SBI chief has been approached.

Sharma, 70, had retired in May 2007 as the vice-chairman of Hindustan Unilever (HUL).

ICICI Bank had on Monday appointed Sandeep Bakshi, managing director and CEO of ICICI Prudential Life, as its wholetime director & chief operating officer (COO).

Chanda Kochhar, who is facing allegations of conflict of interest and quid pro quo deals, will continue in her role as the bank's managing director & CEO. However, she will be on an indefinite leave till an inquiry led by retired Supreme Court judge B.N. Srikrishna is completed.

The other board members at the bank include Uday Chitale, Dileep Choksi, Neelam Dhawan, Radhakrishan Nair, V.K. Sharma, Lok Ranjan (the government nominee), Vishakha Mulye, Vijay Chandok and Anup Bagchi. While there are reports that the tenure of some of the independent directors will not be renewed, this could not be confirmed. The ICICI Bank board consists of seven independent directors now.

According to the new structure at the bank, Bakshi will be responsible for handling all the businesses and corporate centre functions. All executive directors on the board of ICICI Bank and the executive management will report to him. Bakshi will report to Kochhar. However, during her leave he will report to the board.

Bakshi had joined the project financing group of ICICI in 1986, where he was in charge of business development, project appraisals, monitoring and business re-structuring.