HDFC Bank MD & CEO Sashidhar Jagdishan Won’t Seek Reappointment

Jagdishan conveyed his decision to the Board of Directors on August 29. The Board took note of his communication at its meeting held the same day. Despite efforts to persuade him to reconsider his decision, Jagdishan reiterated that he did not wish to seek another term.

Accordingly, Jagdishan will retire from the services of HDFC Bank at the close of business hours on October 26, 2026.

The HDFC Bank Board placed on record its deep appreciation for Jagdishan’s commitment, leadership and contribution to the growth and stability of the bank. The Board also acknowledged his role in the successful completion of one of the largest mergers in corporate India.

Jagdishan has been at the helm of HDFC Bank during a period of significant transformation, including the landmark merger of HDFC Ltd with HDFC Bank. The merger created one of India’s largest financial institutions and involved a complex integration of operations, employees, systems and businesses.

With Jagdishan deciding against another term, the bank has now begun preparations for a leadership transition. The Board has decided to fast-track the process for selection and appointment of his successor well within time, the regulatory filing said.

The next appointment will be closely watched by the banking and financial-services sector, given HDFC Bank’s size, systemic importance and position as one of India’s largest private-sector banks.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, requiring listed companies to disclose material developments to the stock exchanges.