ICICI Bank’s board approved the appointment of Girish Chandra Chaturvedi as its non-executive part-time chairman. The term of the current chairman M.K. Sharma ended on 30 June. Chaturvedi is a retired IAS officer and has an administrative experience of more than 34 years. He has served as the secretary at the ministry of petroleum and natural gas and as additional secretary (financial services). In the banking and financial services sector, he has served as a director at Bank of Baroda, IDBI Bank and Canara Bank, among others. His appointment is effective 1 July. The appointment comes at a crucial juncture when the bank is battling one of its worst management crisis with the MD and CEO Chanda Kochhar going on a long leave to allow Justice B Srikrishna to complete an investigation into whether there was a conflict of interest in loans given by the bank to the Videocon Group.
