The board of directors of ICICI Bank approved the appointment of M. K. Sharma as the non-executive chairman of the bank as the current chairman K. V. Kamath will be stepping down to take over as the president of the BRICS-sponsored New Development Bank. Sharma’s appointmen is for a period of five years and subject to approval by the Reserve Bank of India and effective 1 July 2015. Sharma was on the board of the bank for 8 years until 2011. He is now on the board of ICICI Lombard General Insurance and ICICI Prudential Asset Management Company. Earlier, he was vice chairman of Hindustan Unilever and had been on the boards of many companies.
