HDFC Bank CEO Jagdishan to step down after term ends in October

NEW DELHI: HDFC Bank managing director and chief executive Sashidhar Jagdishan has decided not to seek reappointment when his current term ends on October 26, the country's largest private sector lender said in a regulatory filing on Saturday.Jagdishan conveyed his decision to the bank's board and reiterated it despite the board's "persuasion", the filing said. The HDFC Bank board will fast-track the process to select and appoint his successor "well within time", it added.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 filing said.The bank also wished Jagdishan well in his future endeavours.Jagdishan's decision comes amid heightened scr