ICICI Bank Names Girish Chaturvedi Non-Executive Chairman

The former bureaucrat will act as a part-time Non-Executive Chairman.

A pedestrian walks past a logo of ICICI Bank at its headquarters in Mumbai. 

(Photo: Reuters)

ICICI Bank Ltd board named retired Indian Administrative Services officer Girish Chandra Chaturvedi as non-executive part-time chairman.

The appointment will be effective 1 July or the date of receipt of Reserve Bank of India approval, whichever is later, the private lender said in an exchange filing. Current Chairman MK Sharma’s term ends on 30 June.

The board also appointed Chaturvedi as an Additional (Independent) Director effective 1 July, for a period of 3 years, subject to the approval of shareholders.

The board also appointed Chaturvedi as an Additional (Independent) Director effective 1 July, for a period of 3 years, subject to the approval of shareholders.

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.

ICICI Bank statement

Chaturvedi has served as a Secretary in the Ministry of Petroleum and Natural Gas, in 2011. He has also served as Additional Secretary (Financial Services) in the Ministry of Finance.

He has served on the boards of banks such as IDBI Bank Ltd, Bank of Baroda and Canara Bank in the past.

Chaturvedi holds a Masters degree in physics and social policy from the London School of Economics and a doctorate in economic history from the University of Oxford.

(This story was originally published on BloombergQuint.)