Chanda Kochhar will take over the control of India''s second largest bank on the 1st of May next year from KV Kamath. Kochar will become the Managing Director and Chief Executive Offier of ICICI Bank, an organization that she joined as a management trainee some 24 years ago.
Chanda Kochhar will step into the corner office at ICICI to become one of the most powerful women in Indian business. At the age of 46, it may be heavy load to carry, but Kochar''s credentials left no doubt that she will be the chosen one. Kamath, her predecessor said, Chanda is a well rounded banker. She has handled all the key portfolios. For the last few years, Kochhar has increasingly become the public face of ICICI, pushing the bank''s achievements.
Even before that, Chanda was integrally involved with the operational side of the bank after joining as a trainee in 1984. In 1993 she was nominated to be a part of the core team that set up ICICI bank. By 1997, she was heading the large corporate clients group and in 2001, she went on to the head retail vertical.Further, Kochhar became a part of the top management when she was promoted to CFO in 2006 and finally was handed the post of Joint MD in 2007.
The past year has been a difficult one for ICICI as the stock has tumbled and investors have become disbelieving about its growth projection. Not only this, even the depositors have turned cautious. But Kochhar remains confident that these worries will be overcome. In the meantime, as she works on damage control, Kochhar is looking for future opportunities, which may lie in reviving the bank''s corporate focus and looking for consolidation.
Chanda Kochhar will step into the corner office at ICICI to become one of the most powerful women in Indian business. At the age of 46, it may be heavy load to carry, but Kochar''s credentials left no doubt that she will be the chosen one. Kamath, her predecessor said, Chanda is a well rounded banker. She has handled all the key portfolios. For the last few years, Kochhar has increasingly become the public face of ICICI, pushing the bank''s achievements.
Even before that, Chanda was integrally involved with the operational side of the bank after joining as a trainee in 1984. In 1993 she was nominated to be a part of the core team that set up ICICI bank. By 1997, she was heading the large corporate clients group and in 2001, she went on to the head retail vertical.Further, Kochhar became a part of the top management when she was promoted to CFO in 2006 and finally was handed the post of Joint MD in 2007.
The past year has been a difficult one for ICICI as the stock has tumbled and investors have become disbelieving about its growth projection. Not only this, even the depositors have turned cautious. But Kochhar remains confident that these worries will be overcome. In the meantime, as she works on damage control, Kochhar is looking for future opportunities, which may lie in reviving the bank''s corporate focus and looking for consolidation.
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