Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, India’s largest private-sector lender, has told the board he will not seek another term and will retire on 26 October.
Cover photo: File photo, via The Indian Express
The bank said in a stock-exchange filing on Saturday that directors had tried to persuade him to stay. “Despite persuasion, Mr Jagdishan reiterated his decision to not seek reappointment,” it said. He will leave at the close of business on 26 October, when his second three-year term ends. The board said it would fast-track the search for a successor.
Jagdishan, 61, took over from Aditya Puri in October 2020. He has been with the bank since 1996 and oversaw its merger with Housing Development Finance Corporation, completed in 2023. The Financial Times reported that the lender’s shares have fallen 27 per cent this year, and that his exit follows the resignation of chairman Atanu Chakraborty earlier in 2026.
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