V Vaidyanathan quits as MD & CEO of ICICI Pru

Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

In yet another high profile exit from the ICICI group, V Vaidyanathan, Managing Director and Chief Executive Officer of ICICI Prudential Life Insurance has quit. He will be joining Kishore Biyani's Future Group.

It is being learnt that Sandeep Bakshi, who is currently the Deputy Managing Director of ICICI Bank is likely to head ICICI Pru Life Insurance.

After a decade long stint at ICICI, Vaidyanathan has decided to join Kishore Biyani's Future Group.

What role will Vaidyanathan play in Future Group?

There are two roles that Vaidyanathan could slip into-Future Capital Holding, which has insurance, retail financial services and wholesale credit under its umbrella, has been looking for a new CEO and MD early this year. Future Venture too is looking for a new CEO.

Vaidyanathan took charge as MD and CEO of ICICI Pru Life in May 1999 before which he was the Executive Director at ICICI Bank and set up the consumer finance business for the bank. There he was in charge of retail, SME and rural business.