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Chanda Kochhar named ICICI Bank CEO
By siliconindia
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Friday, 19 December 2008, 23:36 IST |
2 Comments
Mumbai: Chanda Kochhar has been announced the next CEO of India's one of the leading banks ICICI, as the present CEO K V Kamath's term ends in April 2009. Kochhar is currently the Bank's Managing Director and CFO. Kamath has been appointed as the non-executive Chairman of ICICI bank. Till now, his mentor Narayan Vaghul was taking care of this role. Vaghul would step down when his term ends in March, after completing 24 years with ICICI.
Kochhar joined ICICI in 1984 as a Management Trainee and when ICICI decided to enter the commercial banking, she was deputed to ICICI Bank as a part of the core team to set up the bank in 1993. She has played an important role to set up and scale up the retail business for ICICI Bank. She was appointed as the Executive Director, Heading the Retail business in 2001 and promoted as Deputy Managing Director in 2006. Notably, she has often featured in the Fortune magazine's annual lists of most powerful business women across the world.
ICICI Prudential Life CEO Shikha Sharma, Executive Directors V Vaidyanathan, Sonjoy Chatterjee and Madhabi Puri-Buch were also in the list of possible persons for the post of the new CEO and finally Kochhar emerged the best out of all.