HDFC Bank board likely to seek CEO Sashidhar Jagdishan’s extension: Sources | EXCLUSIVE

HDFC Bank’s board is likely to seek an extension for CEO Sashidhar Jagdishan after his current term ends in October, as the lender looks to ensure leadership continuity amid a wave of senior-level changes, sources told CNBC-TV18 exclusively.The board has already persuaded Jagdishan to continue in the role, sources said, adding that the Reserve Bank of India is also keen on his continuation.

Atanu Chakraborty, non-executive chairman of the country’s largest private lender, resigned on Wednesday afternoon (March 18), citing differences with the board. The bank told exchanges that the RBI has approved the appointment of Keki Mistry as the part-time chairman of HDFC Bank for a period of three months.
“Certain happenings and practices within the bank, that I have observed over the last two years, are not in congruence with my personal Values and Ethics. This is the basis of my aforementioned decision,” Atanu Chakraborty stated in his resignation letter.
Sources earlier told CNBC-TV18 that Chakraborty was not in favour of an extension to Jagdishan and wasn’t able to garner support from the board on this.Jagdishan’s current term is ending on October 26, 2026. Of the other current executive directors on the bank’s board, Deputy MD Kaizad Bharucha and executive director Bhavesh Zaveri, the latter’s term ends in April 2026.

Board members and senior HDFC Group veterans are understood to view stability at the top as critical at a time when the bank is seeing churn in its senior ranks.

Several top HDFC Bank executives are set to retire in 2026, while some have exited in recent months, making continuity in the chief executive’s role a key priority.

Also Read: HDFC Bank Share Price Live Updates: Stock down; Atanu Chakraborty calls exit ‘routine’