Private lender ICICI Bank on March 30 said Vijay Chandok will be the MD and CEO of its subsidiary ICICI Securities with effect from May 7, 2019.
Chandok presently is the Executive Director of ICICI Bank.
“Vijay Chandok, presently Executive Director of the Bank would be assuming office as Managing Director & CEO of ICICI Securities Limited with effect from May 7, 2019 and has tendered his resignation from the Board of the Bank to take effect at the end of day on May 6, 2019,” the bank said in a regulatory filing.
The private sector lender also said that Dileep Choksi and V K Sharma, Independent Directors of the Bank, will complete their prescribed primary tenure under the Companies Act, 2013 on March 31, 2019 and will cease to be the Directors of the Bank effective April 1, 2019.
The requisite procedures have been initiated to give effect to this change in accordance with regulation.