Economy
HDFC Bank appoints Anup Bagchi as new CEO
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THE BRIEF
1
HDFC Bank has announced the appointment of Anup Bagchi as CEO for a three-year term, succeeding Sashidhar Jagdishan after his tenure ends in October 2026.
2
Historically, CEO announcements have caused varied stock reactions; Yes Bank shares rallied 9% in 2019, while RBL Bank shares crashed 18% in 2022.
3
Sashidhar Jagdishan’s decision not to seek reappointment follows the March resignation of Chairman Atanu Chakraborty over disagreements regarding bank ethics and practices.