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HDFC Bank sets up panel to identify Aditya Puri's successor

Puri will act as an advisor to the search committee, HDFC Bank said in a notification to exchanges.

November 28, 2019 / 06:36 PM IST
 
 
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HDFC Bank has set up a six-member panel to identify the new managing director to replace Aditya Puri after he retires in October 2020.

The bank's chairperson and former RBI deputy governor Shyamala Gopinath, additional director Sanjiv Sachar, former Infosys CFO MD Ranganath, Sandeep Parekh, Srikanth Nadhamuni and HDFC's representative Keiki Mistry have been named members of the search committee.

Puri will act as an advisor to the search committee, the private lender said in a statement.

"The Search Committee, over the next few months, shall evaluate internal and external candidates to ensure smooth transition," the bank said.

Earlier this year, Puri suggested that knowledge of technology and digital drive would be among the top traits that the lender will focus on in its hunt for a successor.

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"He has leadership, he should command and not demand respect, good idea about technology and fundamental knowledge about the economy," Puri said while speaking after the bank's annual general meeting on July 12. He added that an external agency will also be hired for the same.

Puri, who turns 70 next year, took over the reins of the bank in 1994 and became one of the longest-serving chiefs in private banking.

Other lenders like ICICI Bank, Axis Bank and YES Bank have already seen a change of guard, though under different circumstances as the long-time heads of these banks stepped down due to regulatory reasons.

Recently, IndusInd Bank also finalised Sumant Kathpalia as the successor to MD & CEO Romesh Sobti who retires in March 2020.
Moneycontrol News
first published: Nov 28, 2019 06:36 pm

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