ICICI Prudential Life Insurance recently appointed Mr. NS Kannan as its Managing Director (MD) and Chief Executive Officer (CEO). The appointment is effective from 19 June 2018. While the appointment has been approved by ICICI Prudential Life’s board of directors, the insurer is still awaiting approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the same.
It was also announced to the Bombay Stock Exchange that Mr. Sandeep Bakshi, who until recently served as the chief executive officer of ICICI Prudential, has been appointed as the MD and COO of ICICI Bank. Although Mr. Bakshi has resigned as the CEO of ICICI Prudential, he will continue serving ICICI Prudential Life Insurance as a non-executive director.
Mr. Kannan was the chief financial officer (CFO) and the executive director of ICICI Bank between the years of 2009 and 2013. He has also worked in the treasury of the lender as well. Before being appointed as the CFO of ICICI Bank, Mr. Kannan served as an executive director of ICICI Prudential Life Insurance.
In ICICI Bank, Mr. Kannan worked on risk management, legal, strategic solutions, corporate communications, internal audit, and compliance functions. He has served the ICICI Group in different capacities for more than 27 years in total. He is also on the board of directors of ICICI Bank Canada and ICICI Lombard General Insurance. Further, he serves as a director on the board of ICICI Prudential Life and is the chairman of the board for ICICI Securities Primary Dealership and ICICI Bank UK.
Source: Business Standard