By Macqaurie
RBI has approved the candidature of Sashidhar Jagdishan as the new MD & CEO of HDFC Bank to replace Aditya Puri, whose term ends on October 26, 2020. Sashi joined the bank in 1996 and is currently the group head and ‘Change Agent’ of the bank.
Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. He became business head — finance in 1999 and was appointed as chief financial officer in 2008. Sashi was elevated to the position of ‘Change Agent’ in August 2019 and currently heads the functions of finance, human resources, legal & secretarial, administration, infrastructure, corporate communications and corporate social responsibility.
This ensures continuity and stability. In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice.
Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice.
What we hear from many employees is that Sashi is a hard task master and what is essential is to ensure the stellar execution track record that HDFC Bank has built over the years. Also, in our marketing with investors across the globe, Sashi was their preferred choice.
The markets have also welcomed his appointment with the stock up 5% on the back of this development.
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