ICICI Prudential Refutes CEO Exit Rumors—No Link to IndusInd Bank Top Job, Says Company

ICICI Prudential Life Insurance has firmly denied media reports suggesting that its MD & CEO, Anup Bagchi, has been shortlisted for the CEO position at IndusInd Bank. In a regulatory filing, the company labeled the speculation as “factually incorrect and misleading,” emphasizing that no such development has occurred and that Bagchi remains fully committed to his current role.

 

The clarification comes amid a flurry of market chatter following leadership transitions in the banking sector. ICICI Prudential reiterated that any material developments would be disclosed in compliance with SEBI regulations and urged stakeholders not to rely on unverified reports.

 

Anup Bagchi, who took over as MD & CEO in June 2023, has been instrumental in driving the insurer’s digital transformation and expanding its protection portfolio. The company’s denial aims to quell investor concerns and maintain transparency amid heightened scrutiny of leadership movements in India’s financial services space.

 

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Source: Business Standard