ICICI Bank 2012 Annual Report Download - page 12

K. RAMKUMAR
Executive Director
“Our endeavour for service
excellence and aligning it to
the knowledge and behaviour
of our employees, has
progressed well during the
last 12 months.
Today at an intent level, every
ICICIan wills and wants the
customer, to be his purpose
of coming to work. We are
well on our way towards,
consistently translating
this intent into a Khayaal
Aapka experience, for all
our customers and in all our
engagements with them.”
Annual Report incorporate the accounts of its subsidiaries and
other consolidating entities. A summary of key financials of the
Bank’s subsidiaries is also included in this Annual Report.
DIRECTORS
RBI, vide its letter dated January 3, 2012, approved the re-
appointment of K. Ramkumar as an Executive Director of the Bank
for a further period of two years, i.e. from February 1, 2012 till
January 31, 2014. The Members approved his appointment at the
Fifteenth Annual General Meeting (AGM) held on June 29, 2009 for
a period of five years from February 1, 2009 up to January 31, 2014.
RBI, vide its letter dated April 19, 2012, approved the re-
appointment of K. V. Kamath, Chanda Kochhar and N. S. Kannan
as Chairman, Managing Director & CEO and Executive Director &
CFO of the Bank respectively for a further period of two years i.e.
from May 1, 2012 till April 30, 2014. The Members approved the
appointment of K. V. Kamath as Chairman and Chanda Kochhar as
Managing Director & CEO through postal ballot on February 13, 2009
for a period of five years from May 1, 2009 up to April 30, 2014. The
appointment of N. S. Kannan as Executive Director & CFO was
approved by the Members at the Annual General Meeting held
on June 29, 2009 for a period of five years from May 1, 2009 up
to April 30, 2014.
With effect from May 1, 2012, K. V. Kamath, Chairman is classified
as a non-executive independent Director. In terms of the
definition of independent director as defined in Clause 49 of the
Listing Agreement executed with the stock exchanges, a director
who has been an executive of the Company in the immediately
preceding three financial years would not be classified as an
independent director. Pursuant to the said clause, K. V. Kamath
who was appointed as a Chairman with effect from May 1, 2009
was classified as a non-executive, non-independent Director as
he had been an executive of the Bank upto April 30, 2009 in his
capacity as Managing Director & CEO of the Bank.
V. Prem Watsa retired by rotation on June 27, 2011 at the last
AGM and did not seek re-appointment. The Board placed on
record its appreciation of the valuable guidance provided by Prem
Watsa to the Bank.
The Board, at its Meeting held on January 31, 2012, appointed
Swati Piramal, Director-Strategic Alliances and Communications
in Piramal Healthcare Limited as an additional Director effective
January 31, 2012. Swati Piramal holds office up to the date of the
forthcoming AGM and is eligible for appointment.
Directors’ Report
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