In the recentAnnual general meeting, Mr. Shashidhar Jagdishanhas been appointed as new MD & CEO of the bankw.e.f 26October 2020 in place of Mr. Aditya Puri whose retirement is due onOctober 26, 2020.
Shashi, ShashidharJagdishan as popularly called has about 29 years of experience and is currently working as group head of Finance, human resources, legal & Secretarial, administration, infrastructure, corporate communication and Corporate social responsibility.
Before the approval of Mr. Shashidharan, the present MD & CEO had indicated in AGM, “There has been a lot of talk about the successor not being with us for a long time. Our potential successor has been with us for 25 years. My successor was always in place, at least in my mind. It is now for RBI to decide,”. Mr. Puri also said, "I am absolutely delighted that RBI has approved SashidharJagdishan’s name,” add added "Jagdishan has the necessary skills to lead HDFC Bank. He is humane, motivational and thorough,”.
Aditya Puri whose due retirement is in October 2020 has served the bank for HDFC and holds distinction of longest running CEO of any bank. He has grown the bank’s balance sheet by a consistent 20 percent-plus annual growth rate to Rs 1,545,103 crore now through the economic upturns and downturns.
Mr. Shashidharan has closely worked with Mr. Purisince 1996. Shashi has emerged as front-runnerand Puri wants him to bring digital transformation in the bank, as per reports.