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HDFC Bank’s Managing Director and CEO Sashidhar Jagdishan has decided not to seek reappointment and will retire from the bank on October 26, 2026, the lender said in an exchange filing on Saturday.
Jagdishan conveyed his decision to the bank on August 29. The Board of Directors took note of the communication at its meeting the same day and attempted to persuade him to reconsider, but he reiterated his decision. He will retire from the bank’s services at the close of business hours on October 26, 2026.
Jagdishan succeeded Aditya Puri as MD and CEO in October 2020. During his nearly six-year tenure, he oversaw the merger of HDFC Ltd with HDFC Bank, completed in July 2023, which significantly expanded the bank’s scale and operations. The bank’s other full-time directors are Executive Director V Srinivasa Rangan and Deputy Managing Director Kaizad Bharucha.
The leadership transition comes as HDFC Bank, India’s largest private sector lender, prepares to appoint a new chief. The bank has expedited its succession search to ensure a smooth transition before Jagdishan’s retirement date.
“The board deeply appreciated his commitment, leadership, contribution to the growth and stability of the Bank and his role in the successful completion of one of the largest mergers in corporate India,” HDFC Bank said in its filing.
The disclosure was made under Regulation 30 of the SEBI Listing Regulations.
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