Andy Mukherjee, Columnist

ICICI's CEO Love Must Have a Limit

The board's defense of Chanda Kochhar looks increasingly questionable.

April 13, 2018 at 1:41 AM UTC

Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services in Asia. Previously, he worked for Reuters, the Straits Times and Bloomberg News.

Key Speakers At The Annual Bankers' Conference — Photographer: Dhiraj Singh/Bloomberg

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Chanda Kochhar is one of India’s top bankers. But does that mean that her employer, ICICI Bank Ltd., owes its chief executive officer a job no matter what?

The CEO's husband, Deepak Kochhar, is being investigated for windfall gains from his association with businessman Venugopal Dhoot, whose struggling Videocon group is a large debtor to ICICI. Chanda Kochhar sat on the credit committee that approved a $500 million loan to Videocon.