HDFC Bank Managing Director and Chief Executive Officer (CEO) Sashidhar Jagdishan has opted out of being considered for reappointment after his current term ends on October 26, setting the stage for a leadership transition at India’s largest private sector lender after nearly three decades of his association with the bank.
Jagdishan, 61, conveyed his decision to the board and stated that he did not wish to seek reappointment despite persuasion from the directors, HDFC Bank said in a regulatory filing on Saturday. The board said it will fast-track the process of selecting and appointing his successor “well within time”.
