HDFC Bank announced that its Managing Director and CEO, Sashidhar Jagdishan, has decided not to seek an extension of his term and will retire on October 26, 2026. This information was published by the bank in a report for the BSE exchange on Saturday.
According to HDFC Bank's disclosure to the stock exchange, Jagdishan informed the bank of his decision on August 29. The bank's Board of Directors noted his decision at a meeting held on the same day.
In its disclosure statement, HDFC Bank indicated that 'despite persuasion, Mr. Jagdishan confirmed his decision not to seek reappointment.' He will conclude his work at the bank at the end of the business day on October 26, 2026.
The HDFC Bank Board of Directors stated that it will expedite the process of selecting and appointing a successor to Jagdishan. Furthermore, the board acknowledged his contribution to the growth and stability of the bank, as well as his involvement in completing what was described as 'one of the largest mergers in corporate India.'
The Board of Directors extended its best wishes to Jagdishan for his future endeavors.