India: ICICI appoints Bakhshi CEO after scandal-hit Kochhar resigns

India: ICICI appoints Bakhshi CEO after scandal-hit Kochhar resigns

People exit an entrance of ICICI Bank Ltd.'s head office in Mumbai, India. Photographer: Kuni Takahashi/Bloomberg

ICICI Bank Ltd chief Chanda Kochhar, who has been mired in controversy for months, resigned on Thursday after seeking an early retirement and will be replaced by Sandeep Bakhshi, the Indian private lender said.

Kochhar is the third high-profile woman banker in India to step down in recent months, following Arundhati Bhattacharya who retired from the State Bank of India a year ago and Shikha Sharma who is set to exit after almost ten years atop Axis Bank in December.

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