ICICI Bank appoints M K Sharma as new non-executive chairman Tuesday June 09,2015

 

ICICI Bank on Tuesday June 09,2015 announced the appointment of M K Sharma, a former Vice Chairman of Hindustan Unilever Limited, as the non-executive Chairman for a period of five years, in place of K V Kamath.

Kamath would shortly step down from the bank's board, consequent to his nomination as the first president of the New Development Bank, established by BRICS nations.

"The appointment is subject to the prior approval of Reserve Bank of India (RBI), other regulatory approvals and would be effective July 1, 2015 or the date of receipt of RBI approval, whichever is later," ICICI Bank said in a statement.