Girish Chaturvedi ICICI Bank New Non-Executive Chairman

| June 29 , 2018 , 17:38 IST

ICICI Bank Ltd (Industrial Credit and Investment Corporation of India) India’s Multinational bank on June 29,2018, appointed Girish Chandra Chaturvedi former IAS as part-time, non-executive chairman, in effect from July 1.

The country’s third-largest assets lender also named Chaturvedi as an independent director for three years.

Girish Chandra, a former Indian Administrative Services officer, recently served as chairman of the Warehousing Development and Regulatory Authority (WDRA), also served as a government nominee director on the boards of Life Insurance Corporation (LIC) of India, Canara Bank, Bank of Baroda, IDBI Bank Ltd and IDFC Ltd.

Chaturvedi was unaware about his appointment he said, “Don't have any official confirmation from the ICICI Bank board. They had just asked for my biodata,” he further added that he will accept the role of chairman.

According to the details been provided on his Linkedin profile, he has been the chairman of Petronet LNG Ltd, Indian Strategic Petroleum Reserves Ltd (ISPRL) and Oil Industries Development Board (OIDB).

The Bank said in a statement that the current Chairman MK Sharma's term expires on 30 June.

The appointment came shortly after the bank tapped group veteran Sandeep Bakhshi to be its interim head, with chief executive Chanda Kochhar on leave pending a probe over an alleged conflict of interest.

Besides a SEBI probe, ICICI Bank's board has constituted an 'independent inquiry' and has mandated retired Supreme Court judge, justice BN Srikrishna to preside over that inquiry.

The Newly Appointed Chairman will have to steer the lender out of the ongoing crisis, which surfaced following reportage of the Videocon loan row.