HDFC Bank Chairman Atanu Chakraborty Resigns Amidst Reported Rift with CEO

• HDFC Bank Chairman Atanu Chakraborty resigned due to a reported power tussle with CEO Sashidhar Jagdishan, raising concerns about leadership stability.
• The rift, building for months, involved strategy, governance, and the CEO’s reappointment, as per a Financial Times report.
• Chakraborty, non-executive chairman since 2021, cited “ethical differences” in his resignation letter.
• HDFC Bank initiated a legal review, engaging law firms to examine board proceedings and whistleblower complaints during Chakraborty’s tenure.
• CEO Jagdishan stated the bank will hold board discussions to review past decisions, acknowledging the resignation was unexpected and no specific issues were formally communicated.