The country’s second largest lender ICICI Bank today announced that it plans to appoint Rajeev Sabharwal to the Board of Directors in place of Sonjoy Chatterjee.
The appointment is subject to approval from the banking regulator, the Reserve Bank of India.
Rajeev Sabharwal heads the lender’s retail banking operations and joined ICICI Bank at the beginning of this month from Sequoia Capital.
Chatteerjee, who was Executive Director in charge of new business initiatives, has resigned and will be joining Goldman Sachs as co-head of its Indian operations.
The bank also announced that Tushaar Shah will be joining the bank’s board as a non-executive Director of the Bank effective May 03.
Three non-executive directors--Anupam Puri, L N Mittal and Marti Subrahmanyam—will complete their eight-year tenures on May 3 and will cease to be directors of the bank.