This is what HDFC Bank may do when Aditya Puri's term ends if RBI does not extend CEO limit
Aditya Puri was appointed as the MD and CEO of HDFC Bank in September 1994.

CEO Aditya Puri's relationship with HDFC Bank goes way back to 1990s. In fact, Puri has become the longest serving head of a private bank in the country. However, as all good days come to an end, Puri is also completing his tenure as Managing Director and CEO of HDFC Bank. He is expected to retire on October 2020 from the private bank. Interestingly, HDFC Bank may not have to say goodbye to Puri, if RBI extends the CEO age limit. During its Q4FY19 analysts meet, Puri limited clarification on RBI's CEO age limit, hence, one can expect a succession planning in HDFC Bank.
CLSA in its research note said, "Puri indicated the limited clarity on extending his term from RBI, by increasing the maximum MD-CEO age from 70 years to 75. Per current norms, his term ends in October 2020; if clarity does not emerge, by say October 2019, then the bank may setup a board-led search committee."
"Internal and external candidates will be considered, and Mr. Puri may have one-month overlap. He reiterated that this should have limited impact on business given a strong line of business heads," said CLSA's note.
TRENDING NOW

EPFO extends deadline to upload details by employers for higher pension option by 3-month till Dec 31

Guaranteed Pension System (GPS) vs Old Pension Scheme (OPS): Which pension scheme offers maximum retirement benefits?
Puri bagged the MD and CEO position at HDFC Bank in September 1994. Since then, he has leadership skills and knowledge have created many magic for the lender.
Recently, a survey carried out by FinanceAsia Survey revealed that HDFC Bank was voted the Best Managed Company in India by investors. While the bank's chief Aditya Puri is named as the best CEO in the same survey.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

Small savings schemes: Five-year recurring deposit will make more money for you in December quarter; this is the new interest rate

Plaza Wires IPO hits Street: Issue price, subscription status, listing date, other key details to know

Kerala Weather Update: Heavy rain lashes parts of Thiruvananthapuram, IMD sounds yellow alert in all districts

Flipkart Big Billion Days Sale 2023: iPhone, Google Pixel, Samsung Galaxy, and Motorola; best phones under Rs 60K-Rs 1.5 lakh category
03:04 pm