04/10/2018 2:41 PM IST | Updated 31/01/2019 4:16 PM IST

Chanda Kochhar Steps Down As ICICI Bank CEO

Sandeep Bakhshi, currently the bank's COO, will replace Kochhar at the helm.

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A file photo of Chanda Kochhar.

ICICI Bank Ltd said on Thursday it has appointed Sandeep Bakhshi as Chief Executive Officer to replace Chanda Kochhar, who has requested early retirement from the bank.

Kochhar will also relinquish office from the Board of Directors of the bank's units, it said in a statement.

Kochhar was already on leave from the bank pending an independent enquiry to probe allegations of impropriety against her.

Shares in ICICI rose as much as 5.8% following the announcement.