HDFC Bank Managing Director and CEO Sashidhar Jagdishan will retire when his current term expires on October 26, 2026. Jagdishan declined the board's requests to seek reappointment. The board has accepted his decision and will fast-track the search for a successor.
The exit follows intense speculation regarding the bank's governance practices. Non-executive chairman Atanu Chakraborty resigned in March citing ethical concerns. In July, the board penalized Jagdishan and other executives following an internal review into deposit arrangement irregularities.