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Business News/ Companies / People/  Sandeep Bakshi's re-appointment as ICICI Bank MD & CEO gets RBI approval

The Reserve Bank of India has approved the re-appointment of Sandeep Bakshi as ICICI Bank MD & CEO |for a period of three more years and he will remain at the post till 3 October 2026.

ICICI bank in an exchange filing stated,"RBI has, vide its letter no. DOR.GOV.No. S3306/08.88.001/2023-24 dated September 11, 2023,approved the re-appointment of Mr. Sandeep Bakhshi (DIN: 00109206) as Managing Director & CEO of the Bank with effect from October 4, 2023 till October 3, 2026. At the Annual General Meeting held on August 30, 2023, the Shareholders had already approved the appointment of Mr. Bakhshi for the abovementioned period.

Sandeep Bakhshi has been with the ICICI Group for 36 years and has handled various assignments across the group in ICICI Limited, ICICI Lombard General Insurance, ICICI Bank and ICICI Prudential Life Insurance.

He was appointed as the banks's MD and CEO since October 15, 2018. He has served as Wholetime Director and the Chief Operating Officer (COO) of the bank, prior to his appointment as MD and CEO.

Earlier,the ICICI Bank's board of directors has reappointed Sandeep Bakshi as the managing director (MD) and chief executive officer (CEO) for a period of three years, said in a regulatory filing.

The tenure Sandeep Bakshi was till October 3, 2023. The reappointment period is from October 4, 2023 to October 3, 2026, which is subject to approval from Reserve Bank of India, and the shareholders of ICICI Bank.

“The Board unanimously approved the re-appointment of Mr. Sandeep Bakhshi for a period of three years with effect from October 4, 2023 to October 3, 2026, subject to approval of the RBI and shareholders of the Bank," said the regulatory filing.

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Updated: 11 Sep 2023, 07:51 PM IST
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