Chanda Kochhar new CEO of ICICI bank

Mumbai, Dec 19: ICICI bank announced Chanda Kochhar, as the successor of K V Kamath on Friday, Dec 19 to the post of CEO and Managing Director. Kamath will take over as non-executive chairman after his retirement on April 20. Kochhar would take charge of new post from May 1, 2009.

Chanda Kochhar, joined the erstwhile ICICI as a Management Trainee in 1984 is at present Bank's Joint Managing Director and group Chief Financial Officer. She was deputed to ICICI bank as a part of the core team to set up the operations in 1993 when ICICI decided to foray into commercial banking.

Kochhar played a crucial role in scaling up the retail business for ICICI bank. In 2001 April, she took over as the Executive Director, heading the retail business in the ICICI bank. In April 2006, she was appointed as Deputy Managing Director.

Chanda Kochhar said in a statement released by ICICI bank, "I would like to thank the Board for the confidence that they have reposed in me, and Kamath for his inspiring leadership. I am committed to working with our team and with all our stakeholders to leverage the ICICI Group's strengths and capitalise on the opportunities before us."

OneIndia News (With inputs from Agencies)