Sashidhar Jagdishan appointed MD & CEO of HDFC Bank; He will take charge on October 27

HDFC Bank today appointed Sashidhar Jagdishan as an Additional Director and as the Managing Director (MD) and Chief Executive Officer (CEO) of the Bank. He will take charge from October 27, 2020.

The Reserve Bank of India (RBI) on August 3, 2020, approved the appointment of Sashidhar Jagdishan as managing director and chief executive officer of HDFC Bank for three years. Jagdishan will replace India's longest-serving CEO, Aditya Puri.

The bank in a regulatory filing said, "The Board of Directors of the Bank, at its meeting held today, has approved the appointment of Mr Sashidhar Jagdishan (DIN: 08614396) as an Additional Director and as the Managing Director and Chief Executive Officer of the Bank, subject to the approval of the shareholders of the Bank, for a period of three (3) years from October 27, 2020, as approved by the Reserve Bank of India vide its email dated August 3, 2020."

The bank said in its release said the above appointment shall be placed before the shareholders of the Bank for their approval, by way of the postal ballot (through remote e-voting) in accordance with the relevant MCA circulars. Mr. Jagdishan is not debarred from holding the office of director by virtue of any SEBI order or any other such authority. He is not related to any director of the Bank.

Brief profile of Mr. Sashidhar Jagdishan

Sashidhar Jagdishan (Sashi) joined the Bank in the year 1996 as a Manager in the Finance function. He became Business Head - Finance in 1999 and was appointed as Chief Financial Officer in the year 2008.

Sashi has played a critical role in supporting the growth trajectory of the Bank. He has led the finance function and played a pivotal role in aligning the organization in achieving the strategic objectives over the years.

Prior to his appointment as Managing Director & CEO of the Bank, he was the Strategic Change Agent of the Bank in addition to overseeing the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility.

Sashi has an overall experience of 30 years. He has completed his graduation in Science with specialization in Physics; he is a Chartered Accountant by profession and also holds a Master's degree in Economics of Money, Banking & Finance from the University of Sheffield, UK.