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HDFC Bank CEO Sashidhar Jagdishan Not Seeking Reappointment, to Retire in October: Report

  • On Saturday, Sashidhar Jagdishan, managing director and CEO of HDFC Bank, announced he will not seek reappointment, retiring on October 26, 2026, prompting the Board to fast-track the search for his successor.
  • With less than 2 months remaining in his tenure, Jagdishan reportedly opted out after failing to receive a green signal from the Board or Reserve Bank, who allegedly expressed discomfort with his continuation.
  • Recently, Jagdishan faced internal fines for "business overreach" regarding deposit arrangements with the Maharashtra State Road Development Corporation in 2017 and 2021; he also faced allegations of violating corporate governance norms, which the bank denied.
  • The stock recently fell to a 5 years low, yet the Board acknowledged Jagdishan's leadership and role in completing a major corporate merger, expressing best wishes for his future endeavors.
  • Jagdishan took over as CEO following the retirement of Aditya Puri; he joined HDFC Bank in 1996 as a Finance manager, became Chief Financial Officer in 2008, and previously worked three years at Deutsche Bank.
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Moneycontrol broke the news in Mumbai, India on Saturday, August 29, 2026.
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