Former IRDAI member Radhakrishnan Nair has been appointed to ICICI Bank’s board as an Additional (Independent) Director. His appointment will be for a period of five years and is subject to shareholders’ approval.
Nair has around 40 years of experience in the banking industry and in the field of securities and insurance regulation. He is already an independent director of three subsidiaries of ICICI Bank — ICICI Prudential Life Insurance Company Ltd; ICICI Prudential Trust Ltd and ICICI Securities Primary Dealership Ltd.
Meanwhile, Tushaar Shah, an existing non-executive independent director at ICICI Bank, will complete his term of eight years and cease to be director from Thursday.