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HDFC Bank Shortlists Two Unnamed CEO Candidates as Stock Falls

Who will be new CEO of HDFC Bank? How the stock has performed since the saga began? What we know so far · livemint.com

HDFC Bank needs a new leader because Sashidhar Jagdishan is retiring.

The bank’s board has chosen two possible candidates.

Their names have not been announced.

The Reserve Bank of India must approve the choice.

The new leader would serve for three years.

Investors first reacted calmly when Jagdishan’s decision was announced.

Later, the bank’s shares weakened as investors remained concerned about the leadership change and broader market risks.

The stock was down 28.54% during the year and 26.82% over the previous year.

Key facts

Shortlisted candidates: Two candidates were approved in order of preference; their names were not disclosed.
Appointment term: Three years, subject to Reserve Bank of India approval.
Board decision: Approved at the September 12 board meeting.
Outgoing CEO: Sashidhar Jagdishan is scheduled to retire on October 26.
Initial share reaction: Shares rose 0.59% to ₹724.25 on August 31, after the resignation announcement.
Recent performance: The stock declined 0.54% in one week and 2.85% in one month.
Longer-term performance: HDFC Bank shares fell 28.54% year-to-date, 26.82% over one year, 13.19% over three years, and 9.70% over five years.

livemint.com · 1 hr ago