Mumbai: ICICI Bank Ltd, the country’s largest private lender, has re-appointed its entire top management team for five more years till 2019.
In its annual report for fiscal 2012-13, released on its website on Wednesday, ICICI Bank said its board had approved the re-appointment of non-executive chairman K.V. Kamath, managing director and chief executive officer (CEO) Chanda Kochhar and executive directors N.S. Kannan and K. Ramkumar for five years each.
Executive director Rajiv Sabharwal’s tenure, which was supposed to end on 23 June, has been extended by two years.
Kochhar, who was appointed MD and CEO in 2009, will get another five years at the helm of the bank, subject to regulatory approvals. Her five-year term, which was supposed to end on 31 March 2014, has been extended to 31 March, 2019.
Kamath’s term, which was to end on 30 April, 2014, has been extended until 30 April 2019, as has that of Kannan. Ramkumar’s term will run until 31 January 2019.
“These re-appointments will be subject to the approval of members (shareholders) and RBI (Reserve Bank of India),” ICICI Bank said in its annual report.