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Informist, Saturday, Aug. 29, 2026

--HDFC Bank: MD, CEO Sashidhar Jagdishan to not seek reappointment

--HDFC Bk: Jagdishan not seeking reappointment as MD, CEO despite persuasion

--HDFC Bank: MD, CEO Jagdishan to retire at end of current term on Oct 26 

--HDFC Bank: Board to fast-track process to select MD, CEO successor 

NEW DELHI – HDFC Bank's Managing Director and Chief Executive Officer Sasidhar Jagdishan has decided not to seek reappointment despite the board's attempts to persuade him to continue. He will retire from the bank when his current term ends Oct. 26, HDFC Bank said in an exchange filing Saturday. Jagdishan has been the bank's top executive since Oct. 27, 2020.

"The Board decided to fast-track the process for selection and appointment of his successor well within time," HDFC Bank said in the filing.

Jagdishan's decision extends a period of turmoil at the top for the country's largest private-sector lender. Former chairman Atanu Chakraborty resigned in March citing practices that were not congruent with his personal values and ethics. Former chief election commissioner Rajiv Kumar was appointed HDFC Bank chairman in July.

For the June quarter, HDFC Bank had reported a net profit of INR 190.60 billion and total income of INR 921.84 billion. On Friday, its shares ended at INR 720.30 apiece on the National Stock Exchange, up 1.3% from Thursday.  End

Reported by Aaryan Khanna

Edited by Rajeev Pai

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