Pradeep Kumar Sinha to take over as Non-Government Half-time Chairman of ICICI Financial institution

Former Cupboard Secretary Pradeep Kumar Sinha will take over as Non-Government Half-time Chairman of ICICI Financial institution after G. C. Chaturvedi’s time period ends on June 30, 2024.

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Within the run-up to the aforementioned appointment, the Financial institution’s Board (at its assembly held from February 15-17, 2024), has accredited the appointment of Sinha as an Extra (Impartial) Director for a interval of 5 years, with quick impact, topic to the approval of shareholders.

The Financial institution, in a regulatory submitting, mentioned G. C. Chaturvedi would retire as Non-Government Half-time Chairman on shut of enterprise hours of June 30, 2024.

The Board, due to this fact, accredited the appointment of Sinha because the Non-executive Half-time Chairman with impact from July 1, 2024 or the date of approval from RBI, whichever is later for a interval till February 16, 2029 within the emptiness brought on by the retirement of Mr. Chaturvedi.

Sinha joined the Indian Administrative Service (Uttar Pradesh in 1977). He served because the Cupboard Secretary (from June 2015) for greater than 4 years earlier than shifting to the Prime Minister’s Workplace. He retired from there in March 2021.

“He has been a Authorities Nominee Director in quite a few main Public Sector Undertakings and is due to this fact effectively versed with the rules of wholesome company governance. These embody ONGC, IOCL, HPCL, BPCL, GAIL, and so on.

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“Particularly, he was on the Board of Indian Oil Company (IOCL) for about 7 years at a stretch and equally on the Boards of BPCL and HPCL for about 6 years every,” ICICI Financial institution mentioned.