The new role will be effective from July 1, 2018.
In a recent development, ICICI Bank has appointed Girish Chandra Chaturvedi as an additional independent director and non-executive part-time chairman. The company informed BSE on June 29. Chaturvedi replaces M. K. Sharma, independent director and chariman, who retires from the bank on June 30.
Chaturvedi's new role will be effective from July 1, 2018 for a period of 3 years subject to the approval of shareholders.
Statement given by ICICI Bank in BSE: The Board is extremely pleased with this development and believes that Mr. Chaturvedi will provide maturity and sagacity to the deliberations of the Board. This would also ensure a seamless and smooth transition of leadership at the Board and would address stakeholder concerns in this behalf.
The company's press release on BSE also stated that Chaturvedi is not debarred from holding the office of director by virtue of any order of Securities and Exchange Board of India or any other such authority.