Business

HDFC CEO race has a new name in race

By Sohail Khan 30 August 2026, 1:20 pm

Benchmarks
Nifty24,175.6584.81

Precious Metal
Gold (MCX) (Rs/10g.)156,400.00-2596.0

Enter search text:

Business News›Industry›Banking/Finance›Banking›HDFC Bank weighing deputy MD Bharucha, outsider for CEO: Report

Read Today's Paper

HDFC Bank weighing deputy MD Bharucha, outsider for CEO: Report
Synopsis

HDFC Bank is considering Kaizad Bharucha as a potential next CEO. The bank is also seeking an external candidate for the top position. This search follows recent leadership changes and governance concerns. Sashidhar Jagdishan's retirement is scheduled for October after his second term. The Reserve Bank of India must approve the final appointment.

Listen to this article in summarized format

Loading…
×
×

Unlock AI Briefing and Premium Content

New Year Offer 24 Hours Left
Already a member? Sign In

What's Included

Exclusive Stories
Daily ePaper Access
Smart Market Tools
Curated Investment Ideas
Ad-lite Experience
Subscription

Kaizad Bharucha leads race for top job — Kaizad Bharucha

HDFC Bank is likely to name Deputy Managing Director Kaizad Bharucha as one of two options for its next CEO after incumbent Sashidhar Jagdishan retires at the end of his second term in October, two people familiar with the matter said.

India's largest private lender is also searching for an external candidate in keeping ‌with a central ⁠bank ⁠rule requiring banks submit multiple names for the CEO position, the people said, declining to be identified as the information was private.

The Reserve Bank of India approves top banking appointments.

An external legal review found no evidence to substantiate Chakraborty's governance concerns.

Last month, the board penalised Jagdishan and three others in a separate matter related to the pricing of large deposits.

The bank said on Saturday without elaborating that its CEO since October 2020 had decided not to seek reappointment and that it would fast-track the appointment of a successor.

Also Read: HDFC Bank CEO Sashidhar Jagdishan to step down in October

Among ‌the leading internal candidates is Bharucha, a long-serving executive overseeing the retail and wholesale businesses, the people said.

Bharucha is not due to retire until 2029, when he ⁠will have been a full-time director for 15 years, making him eligible to be CEO under RBI rules. The maximum tenure of a so-called whole-time director is 15 years, though exemptions can be sought.

The price of HDFC Bank shares, which were about 40% foreign-owned as at June-end, has fallen 27% this year, with the decline accelerating after Chakraborty's departure.

Investors have also voiced concern over the lack of gains from a 2023 merger overseen by Jagdishan with then-parent HDFC Ltd.

Add as a Reliable and Trusted News Source
Add Now!

(You can now subscribe to our WhatsApp channel)

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

(You can now subscribe to our WhatsApp channel)

Read More News on
hdfc bankHDFC Bank CEO searchKaizad BharuchaSashidhar Jagdishan retirementReserve Bank of Indiabank leadership issuesHDFC Bank shares declineCEO appointment processAtanu Chakraborty resignation

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

Enter search text:

Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories

& personalised newsletters
Login Now

Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &

in-depth stock reports
Subscribe Now

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Subscribe to gain powerful insights on business, stock market and industry trends.

Big Price Drop! Flat 40% Off

Student Only Offer

Already a Member? Sign In now

Already a Member? Sign In now
Already a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail Offer
Avail Offer

Claim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004

' + h3 + '

' + h4 + '

' + listing + '

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with in-depth insights that matter

Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

The problem with lab grown diamonds
Why a falling rupee is a better option for the economy

A list of top 20 momentum stocks that have delivered massive returns in one year