ICICI Lombard CEO Bhargav Dasgupta Resigns
Dasgupta cited a career opportunity outside India as the reason for stepping down.
ICICI Lombard Ltd.'s Bhargav Dasgupta has resigned from his position as managing director and chief executive officer.
"Bhargav Dasgupta shall be officiating his responsibilities till his last working date, which shall be intimated in due course of time," the company said in an exchange filing.
Dasgupta cited a career opportunity outside India as the reason for stepping down.
He was due to step down from the position in April 2024, completing 15 years as the CEO, according to his resignation letter. "As such, the succession planning process has been initiated, and I am certain that a suitable successor will be found soon."
He would be "happy to support" his successor during his notice period, he said.
Dasgupta expressed gratitude to the team of executives and employees of the company.
"It is thanks to their collective effort that the company has grown to be the second largest insurance company in the country—growing revenues six times and net profit 78 times over these 14 years," he said.
