Private lender ICICI Bank has appointed former bureaucrat Girish Chandra Chaturvedi as its new chairman.
Chaturvedi’s appointment will be effective for the next three years from July 1, 2018 or the date of receipt of Reserve Bank of India (RBI) approval for such appointment, whichever is later,’ said ICICI Bank.
He is 1977 batch former IAS officer, who retired as petroleum secretary five years ago. The bank’s board is looking up for him to provide his expertise to its deliberations.
The decision comes in the wake of the present crisis that the bank is undergoing due to the ongoing inquiry into the conflict of interest charges against its Managing Director and Chief Executive Officer Chanda Kochhar.
Chaturvedi’s appointment will help in ensuring a seamless and smooth transition of leadership at the board and would also address stakeholders concerns on this behalf, said the bank in its official communiqué.
Prior to joining ICICI Bank, Chaturvedi worked as an additional secretary in the department of financial services under the United Progressive Alliance government.
He then moved to the ministry of petroleum and natural gas in 2011.
