Mumbai: HDFC Bank has reconstituted the search panel instituted to find the successor to Aditya Puri, the managing director and chief executive of the 25-year-old private sector lender, the private lender informed the bourses on Wednesday.
Keki Mistry has been replaced by Renu Karnad of the bank's parent HDFC in the search panel. Mistry leaves the board of the bank after completing eight consecutive years as a director -- the maximum tenure that regulation allows.
Puri, who built HDFC Bank from scratch since its inception in 1994 and made it the second largest lender with more than Rs 9 lakh crore assets, is the highest paid banker in the country and is retiring on October 26, 2020.
Puri succession is keenly watched by the industry as the new person will have to fill in a very large shoe, given the way Puri has built the bank that commands the highest premium among the banking stocks across the world and also the best asset quality among the all domestic lenders.
Speculation is intense on whether the bank will pick an internal or an external candidate
