Chanda Kochhar quits ICICI Bank; Sandeep Bakhshi appointed new CEO

In a sudden development, Chanda Kochhar today quit as CEO of ICICI BankNSE 4.21 % after her plea for early retirement was accepted by the bank. Kochhar, 56, who had headed ICICI Bank since May 2009, is also stepping down from the board of directors of its units, including ICICI Securities where she had sought reappointment as the chairperson. Kochhar's current five-year tenure as CEO was to end on March 31, 2019.