ICICI Bank appointed M.D. Mallya, former CMD of Bank of Baroda as an additional independent director on the board of the bank. The bank issued a statement to the stock exchanges in this regard. It said the appointment is effective from 29 May for a period of 5 years subject to the approval of the shareholders. Mallya had served Bank of Maharashtra, Corporation Bank and Oriental Bank of Commerce before assuming the charge of Bank of Baroda. He had functioned in several positions in these banks and has experience in most of the banking functions. He was also chairman of IBA.