Sashidhar Jagdishan, the CEO and managing director of HDFC, India’s largest private-sector bank, has announced he will not seek reappointment. His retirement is set for October 26, as confirmed in a recent regulatory filing from the bank.
“In his free time, Mr Jagdishan enjoys cooking and loves experimenting while in the kitchen, although ‘thayir shadam’ or the staple curd rice remains a favourite. Every weekend is his turn to cook for family and friends. He also enjoys listening to music, particularly Carnatic music and reading when he finds time.
“The Board deeply appreciated his commitment, leadership, contribution to the growth and stability of the Bank and his role in successful completion of one of the largest mergers in corporate India,” the bank said, wishing Jagdishan well for his future. “However, keeping in view any potential divergence with the applicable RBI Directions and based on the recommendations of the Special Disciplinary Committee of Independent Directors, the board decided to issue warning letters and monetary penalty of Rs 1 lakh for three senior employees (the Managing Director & CEO, Chief Financial Officer and Group Head – Retail Assets), and warning letters for the remaining employees,” the board had said. Cycling is his sport of choice when it comes to his fitness regime,” says his bio on HDFC’s website.
