Vaidyanathan quits ICICI Pru to join Future Group

The chief executive and managing director of ICICI Prudential Life Insurance, V Vaidyanathan, today resigned from the company.

According to sources, Vaidyanathan is likely to join Kishore Biyani-promoted Future Group.

Vaidyanathan, who was earlier executive director of ICICI Bank, took over as the head of its life insurance arm in May last year, replacing Shikha Sharma.

Vaidyanathan could not be reached for comment.

He has nearly two decades of experience in the financial services domain. He was also the chairman of ICICI Home Finance Company, and has served on the boards of ICICI Lombard General Insurance, and CIBIL, India’s first credit bureau. He is also the chairman of FICCI Insurance Committee.

Vaidyanathan is the fourth person in ICICI's senior management team, who had quit the Group in over a year-time.

Last year, Chief executive and Managing Director of ICICI Prudential Life Insurance Shikha Sharma left the company and joined Axis Bank as MD and CEO.

Besides, Renuka Ramnath, the managing director and chief executive officer of ICICI Venture, had also resigned.

Earlier this year, Executive Director on the Board of ICICI Bank Sonjoy Chatterjee also left the bank.