Mahendra Kumar Sharma appointed as non-executive Chairman of ICICI Bank

Mahendra Kumar Sharma was appointed as non-executive chairman of India’s largest private sector lender Industrial Credit and Investment Corporation of India (ICICI) Bank.

He will replace K V Kamath who had resigned from top most in order to join as President of the Shanghai based New Development Bank established by the BRICS nations.

Presently, Sharma is an independent director of two subsidiaries of ICICI Bank viz ICICI Lombard General Insurance Company and ICICI Prudential Asset Management Company.

Earlier from 2003 to 2011, he also had served as an independent director on the board of ICICI Bank.

Prior to joining ICICI Bank, Sharma was vice-president of Hindustan Unilever (HUL) and was associated with HUL from 1974 to 2007.

He has a strong understanding of legal and corporate governance matters and had joined HUL in 1974 as a legal manager.

Government Committees: Sharma also had served as a member of the Corporate Law Committee formed by Union Ministry of Corporate Affairs to redraft the Companies Act. He was also a member of the Committee on Corporate Governance formed by the Union Government.

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