7 new directors on ICICI board
Mumbai: The board of directors of ICICI Bank has approved the appointments of seven additional directors on the board of the bank with effect from 1 May, the effective date of merger of ICICI with ICICI Bank. ICICI will cease to exist from 1 May.

The list of new directors on the board of the bank include Ashok Leyland managing director R Seshasayee, General Insurance Corporation chairman D Sengupta, Marti G Subrahmanyam, professor of finance at Stern School of Business, US, Lakshmi Mittal, chairman and CEO of LNM Group, Anupam Puri, management consultant, and two executive directors of ICICI - Kalpana Morparia and S Mukherji.

The other members on the board are N Vaghul, P M Sinha, Uday M Chitale, Somresh R Sathe and Satish C Jha. Two members of the board had put in their papers sometime back B V Bhargava and R Rajamani.

The board also approved the appointment of K V Kamath and Lalita D Gupte who are currently non-wholetime directors as managing director and CEO and joint managing director, respectively.

Morparia and Mukherji will also become executive directors of the merged entity from the effective date.

H N Sinor, who is currently the managing director of ICICI Bank, has been re-designated as joint managing director.
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