K V Kamath to be non-executive chairman of ICICI Bank
19 Dec 2008
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The board of ICICI Bank today announced the appointment of outgoing CEO KV Kamath as non-xecutive chairman of the board on the retirement of N Vaghul on 30 April 2009, subject to the approval of Reserve Bank of India (RBI) and the shareholders.
Kamath, presently managing director and CEO, will retire on 30 April 2009, pasing the baton to his long-time protege Chnada Kochar, who was being groomed for the top job. (See: Chanda Kochhar to succeed K V Kamath as CEO, ICICI Bank)
The board said that Kamath's experience would help the board in maintaining continuity in strategic leadership and governance and providing guidance to the executive management.
