Sandeep Bakhshi will replace Chanda Kochhar as managing director and CEO of ICICI Bank, the lender said on Thursday. His appointment, subject to regulatory approvals, will be for a period of five year until October 3, 2023, the private sector banking major said in a regulatory filing. The appointment of Mr Bakhshi came after the board of ICICI Bank accepted request for an early retirement from Ms Kochhar, who is being probed on charges of alleged conflicts of interest. Mr Bakhshi currently serves as executive director and chief operating officer at ICICI Bank, the country's third largest bank.

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