ICICI Bank 2009 Annual Report Download - page 4

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2
The ICICI Group has always endeavoured to think
ahead of the present and prepare for the future.
This philosophy has been deeply inculcated in our
organisation due to the visionary leadership of
Mr. N. Vaghul. In his 24 years as Chairman of
the Board of erstwhile ICICI Limited (ICICI) and
ICICI Bank, Mr. Vaghul has been the guide who
has helped the organisation navigate the often
turbulent waters of the changing economy and
financial sector. While we have transformed our
business, we have done so based on a strong
foundation of core values, which we owe to
Mr. Vaghul’s leadership. We salute and thank him
as he retires as Chairman of the Board.
As I lay down my executive responsibilities as
Managing Director & CEO of ICICI Bank, I would
like to thank our shareholders, the Board of
Directors, government and regulatory authorities
and my colleagues for their support and goodwill
over the last 13 years. I am honoured to have
been appointed as non-executive Chairman of
the Board. In my new role, I will work with the
Board and the executive management to further
strengthen the governance and management
framework and help the Bank to meet the
expectations of all stakeholders.
We have for many years believed in grooming
leadership talent to ensure a smooth transition
whenever there is a change in management
responsibilities. The new Managing Director &
CEO, Ms. Chanda Kochhar, has hands-on
experience across every area of the Bank’s
functioning and is ideally placed to take the
organisation forward. I am sure that her leadership
will further strengthen the Bank and the ICICI
Group, and that she would enjoy the support of all
stakeholders in this endeavour.
Message from the Chairman