October 2018 Persons in News

• Senior diplomat Sanjay Verma appointed as India's Ambassador to Spain
  Senior diplomat Sanjay Verma has been appointed as India's Ambassador to Spain. Ministry of External Affairs said this on 04 October, 2018.
  
  Verma, a 1990 batch Indian Foreign Service officer, is presently Additional Secretary in the ministry. He is expected to take up the assignment shortly, the Ministry said.
  
  Also, Arindam Bagchi, a 1995 batch IFS official, has been appointed as the next Indian Ambassador to the Republic of Croatia.
  
  
• ICICI Bank CEO Chanda Kochhar Quits, Sandeep Bakhshi Replaces Her
  Chanda Kochhar, the managing director and chief executive officer of private sector lender ICICI Bank, has called it quits.
  
  Bank appoints Sandeep Bakhshi as the new Managing Director and Chief Executive Officer.
  
  The development comes even as the Srikrishna committee, which is probing charges of conflict of interest against her, is yet to officially submit its findings to the bank’s board.
  
  The lender has named Sandeep Bakhshi as the new MD & CEO and handed him a five-year term till October 3, 2023. The appointment is subject to regulatory approvals.
  
  At 2:10 pm, shares of ICICI Bank traded at Rs. 316.15, up 12.55 points or 4.13 per cent on the BSE.
  
  M.D. Mallya, an independent director, has also resigned from the board for “health reasons.”
  
  Mr. Bakhshi was appointed as the chief operating officer in June after the bank constituted a committee, headed by Justice B.N. Srikrishna (retd.), to look into the allegations of conflict of interest against Ms. Kochhar. She had gone on leave after the committee was formed.
  
  In a notification to the exchanges on Thursday, ICICI Bank said Ms. Kochhar had sought early retirement from the bank, which accepted the request immediately. “The enquiry instituted by the board will remain unaffected by this and certain benefits will be subject to the outcome of the enquiry,” the bank said.
  
  Ms. Kochhar will also relinquish office from the board of directors of the bank’s subsidiaries, it said.

Published date : 16 Oct 2018 02:55PM