HDFC Bank (NSE:HDFCBANK, BOM:500180) has submitted two candidate names to the Reserve Bank of India for approval to replace Sashidhar Jagdishan as its next managing director and CEO, according to a Saturday filing to the Indian stock exchanges.
Jagdishan opted not to seek reappointment last month and is slated to retire from the bank at the close of business on Oct. 26.
The lender expanded its board and increased the number of whole-time directors to four from the present three, appointing Chief Credit Officer Jimmy Tata as a whole-time director, the filing said.
The bank's board also approved the reappointment of V. Srinivasa Rangan as a whole-time director, designated as executive director, for a one-year term starting Nov. 23.