ICICI Bank’s Board of Directors has approved the inclusion of Mr. Samit Upadhyay and Mr. Sachin Garg as senior management personnel (SMP), effective October 1, 2025. Additionally, Mr. Atul Arora, currently an SMP, will superannuate from the Bank on September 30, 2025, ceasing to be an SMP from October 1, 2025. The decisions were made during a board meeting held on September 19, 2025.
Senior Management Changes
The Board of Directors of ICICI Bank Limited has approved key changes within its senior management team. The decision follows the recommendation of the Board Governance, Remuneration & Nomination Committee and will be effective October 1, 2025.
New Appointments
Mr. Samit Upadhyay and Mr. Sachin Garg will join the ranks of senior management personnel (SMP). Their inclusion reflects the bank’s commitment to strengthening its leadership team.
Departure of SMP
Mr. Atul Arora, a current SMP of ICICI Bank, is set to retire from his role on September 30, 2025. Consequently, he will no longer be designated as an SMP effective October 1, 2025.
Board Meeting Summary
The Board meeting, during which these decisions were finalized, commenced at 9:30 a.m. and concluded at 3:25 p.m. on September 19, 2025.
Profiles of New SMPs
Mr. Samit Upadhyay is a Chartered Accountant and Actuary, bringing over two decades of experience from companies like Tata AIA Life Insurance, HDFC Standard Life Insurance, and ICICI Prudential Life Insurance.
Mr. Sachin Garg, also a Chartered Accountant with over two decades of experience, has previously worked at Genpact and Bharat Sanchar Nigam Limited.
Source: BSE
