Chairman's exit a 'challenging event' that raised governance questions: HDFC Bank CEO

HDFC Bank chief executive Sashidhar Jagdishan said the sudden resignation of former chairman Atanu Chakraborty in March was a “challenging event” that triggered tough questions about the lender's corporate governance. Writing to shareholders in the bank’s FY26 annual report released on Saturday, Jagdishan sought to address the fallout from Chakraborty's parting statements.Following the exit, HDFC Bank moved swiftly to appoint Keki Mistry as interim chairman with RBI clearance, Jagdishan said. He noted that the day after the resignation, board members briefed analysts and the media, clarifying that Chakraborty had never raised any issues regarding practices that conflicted with his personal values or ethics during their discussions.The controversy began in March when Chakraborty abruptly stepped down as chairman. In his 17 March resignation letter to the board, he cited “certain happenings and practices within the bank” that were “not in congruence” with his personal values and ethics, without elaborating.