CEO exit adds pace to HDFC succession
Mumbai, Aug. 31 -- HDFC Bank was not expecting to start its new leader hunt quite yet, but Sashidhar Jagdishan's decision to not seek a new term as chief executive when his tenure ends in October has suddenly put it in transition mode. Deputy managing director Kaizad Bharucha is widely expected to don the mantle of an interim chief till a full-time executive is found.
According to a person aware of the discussions, the bank will soon appoint a search firm to look for Jagdishan's replacement. The Reserve Bank of India (RBI) typically wants banks to list a mix of external and internal candidate names for approval.
The person said the board had requested Jagdishan to reconsider his decision, but he declined. In his letter to the board, the chi...
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