ICICI Bank appoints Pradeep Kumar Sinha as an Additional (Independent) Director

by Psu Connect
Date: 17-02-24

The Board, therefore, approved the appointment of Mr. Sinha as the Non-executive Part-time Chairman with effect from July 1, 2024 or the date of approval from RBI, whichever is later for a period until February 16, 2029, in the vacancy caused by the retirement of Mr. Chaturvedi.

ICICI Bank appoints Pradeep Kumar Sinha as an Additional (Independent) Director

New Delhi: ICICI Bank today at its board meeting approved the appointment of Mr Pradeep Kumar Sinha as an Additional (Independent) Director for 5 years, with immediate effect, subject to the approval of shareholders. Mr. G. C. Chaturvedi would retire as Non-Executive Part-time Chairman on close of business hours of June 30, 2024.

The Board, therefore, approved the appointment of Mr. Sinha as the Non-executive Part-time Chairman with effect from July 1, 2024 or the date of approval from RBI, whichever is later for a period until February 16, 2029, in the vacancy caused by the retirement of Mr. Chaturvedi.

Who is Mr. Pradeep Kumar Sinha?

Mr. Pradeep Kumar Sinha joined the Indian Administrative Service in 1977 after completing his Masters in Economics from the Delhi School of Economics in 1976. He had graduated in Economics (Honours) from St. Stephens College, Delhi. While in service, he completed M. Phil in Social Sciences in 1991 and was a Visiting Fellow in University of Oxford during 1999. He has also attended prestigious programmes, such as, on ‘Mergers and Acquisitions’ in the University of Stanford and on 'Leaders in Development' in Harvard University.

In the formative years, he served in the State of Uttar Pradesh, whereafter he served mostly in the Government of India and rose to the highest position of Cabinet Secretary, the head of civil services. He served as the Cabinet Secretary for more than 4 years before moving to the Prime Minister’s Office. He retired from there in March 2021 after 44 years of continuous service to the nation. In the Govt. of India, he worked mostly in the Power and Oil & Gas (Petroleum) Ministries for about 15 years.

Notable positions held in Gov’t of India include: Financial Advisor and Special Secretary, Petroleum and Natural Gas; Secretary, Ports and Shipping; and Secretary, Power. He has been a Government Nominee Director in numerous major Public Sector Undertakings and is therefore well versed with the principles of healthy corporate governance.

These include ONGC, IOCL, HPCL, BPCL, GAIL, etc. In particular, he was on the Board of Indian Oil Corporation (IOCL) for about 7 years at a stretch and similarly on the Boards of BPCL and HPCL for about 6 years each. By virtue of his experience, he has developed expertise in the sectors of Energy, Infrastructure, Transport, Urban Development and Finance.