MK Sharma replaces KV Kamath as ICICI's non-executive chairman

June 09, 2015 15:55

ICICI Bank appoints M K Sharma as Non-Executive Chairman for five years in place of K V Kamath.

Kamath, who was ICICI Bank's non-executive chairman, was appointed the first head of the $100-billion New Development Bank of the BRICS countries, to be based in Shanghai.

India will hold the presidency of the bank for the first six years, followed by five-year terms each for Brazil and Russia, under an agreement reached after intense negotiations among the five countries in the BRICS group - Brazil, Russia, India, China and South Africa - last year.

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