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HDFC Bank MD & CEO Sashidhar Jagdishan to retire in October, ending six-year tenure
Jagdishan declines reappointment as lender begins search for his successor
MUMBAI: HDFC Bank MD and CEO Sashidhar Jagdishan will retire from the lender on October 26, 2026, after deciding not to seek another term in the role.
In a regulatory filing, HDFC Bank said Jagdishan conveyed his decision to the board on August 31. The board noted his communication and said that, despite its efforts to persuade him to continue, he had reiterated his decision not to seek reappointment.
Jagdishan will retire from the services of HDFC Bank at the close of business hours on October 26.
The board credited Jagdishan with significant contributions to the bank’s growth and stability, as well as his role in the successful completion of the merger between HDFC Ltd and HDFC Bank, one of the largest mergers in corporate India.
The board also expressed its appreciation for his leadership and commitment and conveyed its best wishes for his future endeavours.
HDFC Bank said its board has decided to fast-track the process of selecting and appointing Jagdishan’s successor, ensuring that the new MD and CEO is in place well before his retirement.
Jagdishan took over as HDFC Bank’s MD and CEO in October 2020, succeeding Aditya Puri. His tenure included the landmark merger with HDFC Ltd, which was completed in July 2023 and created one of India’s largest financial services institutions.
His departure marks a significant leadership transition for HDFC Bank, with the lender now preparing to identify the executive who will lead the bank through its next phase of growth.
