HDFC Bank Managing Director and CEO Sashidhar Jagdishan has decided not to seek reappointment and will step down from the his position on October 26, 2026, the lender informed on Saturday.
Speaking on his decision to exit India's biggest private lender, Jagdishan told NDTV Profit, "With issues addressed, this is the best time to resign."
On Saturday, HDFC Bank told exchanges, "the Board of Directors took note of Sashidhar Jagdishan's communication to not seek reappointment. Despite persuasion, Mr. Jagdishan reiterated his decision to not seek reappointment. Accordingly, he shall retire from the services of the Bank upon the close of business hours on October 26, 2026."
Jagdishan's reappointment has been a subject of intense speculation, especially after the unexpected resignation of non-executive chairman Atanu Chakraborty in March this year, citing ethical and governance concerns at the lender. He was appointed as the CEO of the bank in October 2020 and is currently serving his second three-year term as the lender's head. Jagdishan took over as the CEO from Aditya Puri, who had led the bank since its founding in 1995.
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