HDFC awaits for RBI approval for appointment of CEO Aditya Puri's successor; bank has finalised three candidates

The bank has submitted its application to the Reserve Bank of India with names of candidates in the order of preference to seek nod for the appointment.

FP Trending April 20, 2020 14:38:00 IST
HDFC awaits for RBI approval for appointment of CEO Aditya Puri's successor; bank has finalised three candidates

HDFC bank has finalised three candidates to succeed its chief executive officer (CEO) and managing director Aditya Puri whose term is due to expire on 26 October.

“The Board of Directors of the Bank has today finalized the names of three candidates, in the order of preference, for the position of the Managing Director & Chief Executive Officer (MD & CEO) of the Bank,” HDFC informed the bourses in a statutory filing.

HDFC awaits for RBI approval for appointment of CEO Aditya Puris successor bank has finalised three candidates

File image of Aditya Puri. News18

The bank has submitted its application to the Reserve Bank of India (RBI) with names of candidates in the order of preference to seek nod for the appointment.

However, HDFC has not revealed the names of the candidates who are in line to succeed Puri.

Meanwhile, the bank also informed the bourses in another filing on the same day that Sashidhar Jagdishan and Bhavesh Zaveri, who are in charge of operations, have resigned as additional directors.

The resignations have been tendered in line with the RBI’s instruction asking HDFC to keep their appointments in abeyance till a new MD and CEO takes charge.

“We refer to our earlier intimation dated April 8, 2020 regarding the RBI communication advising the Bank to examine and submit the proposal for appointment of Sashidhar Jagdishan and Bhavesh Zaveri as Executive (Whole-Time) Directors of the Bank after a new MD and CEO assumes charge later this year,” said the bank’s filing.

Puri has been at the helm of affairs at the bank since its incorporation 25 years ago.

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