Sashidhar Jagdishan will not seek 3rd term at HDFC Bank
HDFC Bank needs a new CEO fast: Sashidhar Jagdishan has decided not to stay on for a third term, and his last day is October 26.
That gives the bank less than two months to find someone new.
The pressure's real: RBI approvals for CEOs at private banks have taken anywhere from just over a month to well over a year in recent times.
Kaizad Bharucha expected interim CEO
The bank says it'll speed up its search, with plans to hire a search firm soon.
Kaizad Bharucha, currently deputy managing director, is expected to step in as interim CEO, but rules might keep him from taking the job permanently.
Analysts think this could bring fresh leadership if handled smoothly, but investors are nervous; HDFC Bank's stock dropped 1.5% today after some early gains, showing just how much this leadership change matters right now.