Deepak Parekh to step down as HDFC Chairman
Sashi Jagadishan, MD & CEO of HDFC Bank, will now take over from Parekh
HDFC Chairman Deepak Parekh will be reportedly moving on from the company. In a letter to shareholders, Parekh said that he will be “hanging up his boots.”
This quitting comes in the wake of HDFC’s merger with HDFC Bank, which is expected to come into effect from July 1.
“While this will be my last communication to the shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity. The HDFC experience is invaluable. Our history cannot be erased, and our legacy will be taken forward,” he said.
Parekh and his uncle HT Parekh guided the HDFC Group for over forty years. Sashi Jagadishan, MD & CEO of HDFC Bank, will now take over from Parekh.
