Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, is set to retire from the private sector lender on October 26, 2026, after deciding not to seek reappointment to the position.
In a regulatory filing dated August 29, HDFC Bank said Jagdishan had communicated his decision to the board. While the board attempted to persuade him to reconsider, Jagdishan reiterated his decision to step down.
He will retire from the services of HDFC Bank at the close of business on October 26.
Jagdishan has been at the helm of HDFC Bank during a period of major transformation for the lender, most notably the completion of its merger with Housing Development Finance Corporation (HDFC), one of the largest mergers in corporate India.
The bank’s board acknowledged Jagdishan’s “commitment, leadership and contribution” to HDFC Bank’s growth and stability. It also credited his leadership in successfully executing the merger.
Following his decision to retire, HDFC Bank said it will fast-track the process of identifying and appointing his successor well ahead of Jagdishan’s departure.
The bank has not yet disclosed details of potential candidates or indicated who could succeed Jagdishan as MD & CEO.
