Sandeep Bakshi has been appointed as the whole-time director and Chief Operating Officer (COO) of the ICICI Bank designate for a period of five years, after Chanda Kochhar goes on leave till competition of inquiry. Bakhshi will report to Kochhar, who will continue in her role as MD & CEO of ICICI Bank while all the Executive Directors on the Board of Bank and the Executive Management will report to Bakshi during Kocchar's absence. Bank's Executive Director N.S. Kannan will become the Chief Executive of ICICI Prudential Life Insurance Company subject to regulatory approvals.