The Board of Directors of ICICI Bank have approved the appointment of MK Sharma as the non-executive Chairman of the Board for a period of five years in a meeting held on June 09, 2015.

He has replaced KV Kamnath who would step down from the Board shortly consequent to his nomination as the first President of the New Development Bank being established by the BRICS nations.

Further, the appointment is subject to the prior approval of RBI and other regulatory approvals. It will be effective from July 01, 2015 or the date receipt of RBI’s approval whichever is later.

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