The Reserve Bank of India has approved the re-appointment of Sandeep Bakhshi as the managing director and chief executive officer of ICICI Bank, the private lender said in a regulatory filing on August 24.
The re-appointment will come into effect on October 15 and the tenure will continue till October 3, 2023.
“The shareholders at the annual general meeting held on August 9, 2019, had already approved the appointment of Bakhshi for a period effective from October 15, 2018, up to October 3, 2023,” ICICI Bank stated in the stock exchange filing.
On October 15, 2018, the RBI had approved the appointment of Bakhshi for a three-year term. Bakhshi took over the charge after his predecessor Chanda Kochhar’s exit following the ICICI Bank-Videocon loan controversy. He joined the group in December 1986 and has held leadership positions in both the bank and its insurance arms.
