ICICI Bank appoints Sandeep Bakhshi as COO, Chanda Kochhar goes on leave

N S Kannan named MD and CEO of ICICI Prudential Life Insurance

The board of ICICI Bank has appointed Sandeep Bakhshi whole-time director and chief operating officer (COO) to run the affairs of the private lender. Chanda Kochhar, managing director (MD) & chief executive officer (CEO) will be on leave, pending the probe.

The changes come amid allegations of a quid pro quo in transactions between Videocon Industries, Kochhar and her husband Deepak Kochhar’s company NuPower Renewables.

The bank board has appointed former Supreme Court judge B N Srikrishna to probe allegations of conflict of interest against Kochhar. He will be aided by a number of internal and external ‘experts’ to complete