HDFC Bank (BOM:500180, NSE:HDFCBANK) said Chief Executive Officer Sashidhar Jagdishan has decided not to seek reappointment and will retire from the bank after the close of business on Oct. 26, according to an exchange filing.
The board will fast-track the process of selecting and appointing his successor, the bank said.
HDFC Bank is likely to name Deputy Managing Director Kaizad Bharucha as one of two options for its next CEO, Reuters reported separately, citing two people familiar with the matter.
The bank did not immediately respond to MT Newswires' request for comment.
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