HDFC, a leading bank in India, has announced the reappointment of Sashidhar Jagdishan as Managing Director and CEO for the next three years, with the approval of the Reserve Bank of India. His appointment is now effective until October 26, 2026.
The official announcement of the appointment was made through a BSE filing on September 20, 2023, stating, "We wish to inform you that, pursuant to an application made by the Bank to the RBI upon the recommendation of the Bank’s Board of Directors, the RBI, via its communication dated September 18, 2023, has approved the reappointment of Sashidhar Jagdishan as the MD and CEO of the Bank for a period of three years, commencing on October 27, 2023, and concluding on October 26, 2026."
Jagdishan's reappointment process was initiated in March 2023 when the bank informed, "The Board of Directors of the Bank has recommended the reappointment of Sashidhar Jagdishan as the Managing Director and CEO of the Bank for a further period of three years, starting from October 27, 2023, subject to approval by the RBI and shareholders."
Jagdishan, who joined the bank in 1996 as a Manager in the Finance division, was appointed as MD & CEO in 2020, succeeding Aditya Puri, who retired in the same year. In this role, he brings over 31 years of leadership experience encompassing Finance, Human Resources, Legal and Secretarial, Administration, Infrastructure, Corporate Communications, and Corporate Social Responsibility functions. In his previous roles with the bank, he held key positions, including Business Head in 1999, Chief Financial Officer in 2008, Group Head, and his current role. "He played a critical role in supporting the Bank's growth trajectory by leading the finance function and playing a pivotal role in aligning the organization to achieve its strategic objectives over the years.", stated the bank.
On the academic front, Jagdishan is a qualified Chartered Accountant and holds a Bachelor of Science degree from Mumbai University. He also possesses a Master’s degree in Economics of Money, Banking & Finance from the University of Sheffield, United Kingdom.