The bank has submitted the names of two candidates in order of preference and the remuneration proposed to be paid to them, for a period of three years to Reserve Bank of India for approval, it said in a regulatory filing.
Last month, HDFC Bank said Sashidhar Jagdishan has conveyed his decision to not seek re-appointment as the Managing Director & Chief Executive Officer of the bank, after its second term ends in October 2026.
HDFC Bank has also sought nod for re-appointment of V. Srinivasa Rangan as a Whole-time Director (designated as Executive Director) of the Bank along with remuneration payable to him with effect from 23 November 2026 till 22 November 2027.
It has also sought nod for appointment of Jimmy Tata as a Whole-time Director (designated as Executive Director) of the Bank along with remuneration payable to him, for a period of 3 years.
HDFC Bank has also sought nod for creation of one additional position of Whole-time Director, thereby increasing the strength of Whole-time Directors on the Board of the Bank to four, in addition to the Managing Director & Chief Executive Officer,
The additional position is in order to have sharper synergy and oversight, including on the subsidiaries of the Bank as well as to have larger pipeline for succession planning. The said position will be filled in consultation with the new Managing Director & Chief Executive Officer, after he/she takes charge of the position, it said.
