HDFC Bank is expected to appoint a regular chairman within the next two weeks, ahead of a key decision on the extension of Managing Director and CEO Sashidhar Jagdishan, according to sources familiar with the matter. The board is prioritising leadership stability following recent governance developments.
The bank has reportedly received a clean chit from an external legal review concerning allegations raised by former part-time chairman Atanu Chakraborty, who resigned in March citing concerns over internal practices. His exit led to the appointment of veteran banker Keki Mistry as interim part-time chairman.
Sources indicate that while the chairman appointment process is nearing completion, the board is likely to take up the CEO’s tenure extension by the end of July. Jagdishan, who became MD & CEO in 2020, received a three-year extension in 2023, with his current term set to end in October.
The bank is aiming to resolve top-level leadership decisions in a phased manner to ensure continuity and governance clarity. HDFC Bank continues to remain one of India’s largest private sector lenders, with its leadership decisions closely watched by investors and market participants.
