HDFC Bank managing director and CEO Aditya Puri has sold shares worth Rs 843 crore of the country's largest private sector lender. Mr Puri sold 74.20 lakh HDFC Bank shares between July 21 and July 24, for a total consideration of Rs 842.73 crore, BSE data showed. Ahead of the share transactions, Mr Puri had 77.96 lakh shares of HDFC Bank. HDFC Bank has been looking for a candidates to succeed Mr Puri, who is scheduled to retire in October this year.
Earlier, in April, HDFC Bank had informed exchanges that its board had finalised three candidates to succeed Aditya Puri, without disclosing their names, saying they will be communicated to the Reserve Bank of India (RBI).
Market watchers are keenly awaiting any news developments on his successor, as it is one of the most coveted jobs in the country's banking sector, according to analysts.
HDFC Bank's board had appointed a search committee and also engaged external headhunters to search a candidate to succeed Mr Puri.
Mr Puri has more than four decades of experience in banking both within the country and abroad.
Mr Puri has been head of the private sector lender since its incorporation 25 years ago. He has been the managing director of HDFC Bank since September 1994.
He has led HDFC Bank to be the country's largest and most valuable bank, on the back of a strict hold over asset quality.
Prior to joining HDFC Bank, Mr Puri was the CEO of Citibank, Malaysia from 1992 to 1994.
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