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I assumed office at appropriate time: Kochhar

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Press Trust of India Mumbai

Playing down the issues of foreign investment in banks and exit of her two top-level colleagues, Chanda Kochhar today said she has assumed office as ICICI Bank CEO & MD at an "appropriate time" and would take forward the legacy of predecesors K V Kamath and N Vaghul.

"Of course, I think, I have assumed office at appropriate time..." Kochhar said, when reminded about new FDI guidelines creating confusion over the bank's status and resignation of two top-most executives -- Shikha Sharma and Renuka Ramnath -- days before her taking charge.

"According to me, there is no change as such in our ownership... It is not hampering our day-to-day working, so there is no need for any contingency plan," she told PTI in an interview, while exuding confidence that clarity would soon be there as discussions were on between the government and RBI.

 

Kochhar took charge as ICICI Bank's CEO & MD from May 1, as Kamath was elevated to the non-executive chairman position.

On whether she would miss Kamath, who would not be available for day-to-day operations, Kochhar said: "The new generation has to become confident and the new generation has to learn to take responsibilities...

"I think, what is important for us to say is that he has created a very good legacy... A great legacy, both Kamath and Vaghul created in their respective roles. It's really my responsibility to make sure that the legacy not only survives, but thrives and grows."

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First Published: May 03 2009 | 1:36 PM IST

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