Chanda Kochhar named ICICI Bank CEO
Versatile work experience and proven skills got her the top job
The ICICI Bank board has named joint managing director and CFO Chanda Kochhar as the bank's
chief executive officer and managing director. She will take over from K V Kamath, the bank's
current CEO and MD, when his term ends in April 2009. Kochhar has the unique distinction of having worked across almost all departments ranging from project finance, treasury, the corporate
centre and retail, a business that she nurtured for the group from day one.
The succession plan at ICICI Bank wasn't unpredictable. It became fairly clear that Kochhar
was the frontrunner for the corner room when she was elevated to Joint Managing Director &
CFO— the second most powerful position in the bank—early last year.
Kochhar joined the erstwhile Industrial Credit and Investment Corporation of India in 1984
after graduating from the Jamnalal Bajaj Institute of Management. Having started as a
management trainee, in 1993, she moved to ICICI Bank, the private sector bank which later
merged ICICI, the development financial institution, with itself. Kochhar was among the first
employees of the bank and was responsible for how it shaped up.
She was instrumental in setting up and scaling up the retail business for ICICI Bank. In April
2001, she took over as the executive director, heading the retail business in the ICICI Bank.
In April 2006, she was appointed as deputy managing director.
She has often featured in the Fortune magazine's annual lists of most powerful business
women across the world.