ICICI Life Insurance appoints new CEO
What's the story
ICICI Life Insurance Company has announced the appointment of Sidharatha Mishra as its new Managing Director and Chief Executive Officer (CEO). The decision comes after the resignation of Anup Bagchi, who will be leaving his position on October 13. Mishra's tenure as MD & CEO will officially begin on October 14 or after getting approval from the Insurance Regulatory and Development Authority of India (IRDAI), whichever is later.
Professional background
Mishra to also take over as COO
Mishra, who is currently heading digital channels and partnerships, voice channel, customer service, and NRI and IFIG groups at ICICI Bank, has over 26 years of experience in the banking sector.
He will also take over as Chief Operating Officer from October 6.
Mishra holds a bachelor's degree in science and a postgraduate diploma in management with specialization in finance from Utkal University, Bhubaneswar.
Transition details
Bagchi's resignation and board's appreciation
In his resignation letter dated October 1, Bagchi said he was leaving to pursue a "new career opportunity outside the organization."
He assured his commitment to support a smooth transition and handover of responsibilities.
The board appreciated Bagchi's contribution to ICICI Group's growth over the last three decades in various roles.
Under his leadership, ICICI Life became a "resilient franchise," the board said.