Paresh Sukthankar steps down from the successor race at HDFC.
Photo Credit : Reuters,
The current Deputy Managing Director and founding member of HDFC Bank Ltd., Paresh Sukthankar has stepped down from his role and has cited personal reasons for his resignation when asked about the major decision.
Paresh played a crucial role in moulding HDFC into one of India's leading financial institution and supervised the Bank's credit and risk management and various other strategic initiatives.
Paresh Sukthankar who is the current Deputy MD and a founding member of HDFC Bank had resigned and stated that it is due to personal reasons. The bank is taken aback with his resignation as he was being considered to take over as the successor MD&CEO after Aditya Puri's retirement in October 2020.
“He cited personal reasons for leaving. I had told him that he was one of the candidates considered for the post of MD. However, the process would take two years before a final decision is taken,” said Deepak Parekh, Chairman of Housing Development Finance Corp. Ltd (HDFC). Paresh has been with HDFC since 1994 and after spending over two decades with the bank, he was appointed as Deputy MD in 2017.