HDFC Bank on October 17 informed that its present head of finance, Sashidhar Jagdishan, will be the new CEO of the bank. Earlier, the RBI has approved his appointment for a term of three years. Sashidhar, who joined HDFC in 1996, has served various positions in the bank including that of Chief Financial Officer. He is expected to take charge from October 27, and will replace incumbent Aditya Puri.
Upset with the existing management, stakeholders of Lakshmi Vilas Bank have rejected the appointment of seven directors at the company's Annual General Meeting (AGM). The seven directors included S Sundar, who was proposed as MD and CEO. Reportedly, the bank is in talks for a conglomeration with Clix Group, and is currently looking for funds. Earlier, the bank's capital adequacy ratio stood at 0.17% as of June 30.
Vinay Dube, CEO of Wadia Group's GoAir, has resigned. Kaushik Khona who previously was the CEO from 2009-11, has been re-appointed. According to DGCA, GoAir's domestic market share has dropped significantly, being just 3.8% in July 2020. The airline is currently operating small number of flights and has sent the 70 percent of its staff on leave without pay, since April.
Courtesy: Times Of India
Sashidhar Jagdishan will be appointed as the new Chief Executive Officer (CEO) of India's largest private sector in term of assets, HDFC bank. Jagdishan, who is currently the Chief Financial Officer, joined Mumbai-based HDFC in 1996. He will be replacing present CEO, Aditya Puri who is set to retire on October 26, 2020. Reportedly, HDFC bank's shares spiked by 4.7% after the announcement, inflating the Mumbai market.
Courtesy: India Today