C M Vasudev succeeds Jagdish Capoor as non-executive chairman of HDFC Bank

HDFC Bank Ltd today announced the appointment of C M Vasudev as its non-executive chairman. He will take over from Jagdish Capoor, who is due to retire on 5 July after completion of his term.

Vasudev has been an independent director of the bank since October 2006. A retired IAS officer, he has held key positions, including finance secretary, Government of India and executive director, World Bank.

He has also been the government nominee on the boards of many companies in the financial sector, including the State Bank of India, IDBI, ICICI, IDFC and NABARD.

Capoor has been the non-executive chairman of HDFC since 6 July 2001. He is also a former deputy governor of the Reserve Bank of India.

The board of directors of HDFC Bank, which approved the appointment of the new non-executive chairman, expressed deep appreciation for Capoor's contribution to the bank.

The appointment of Vasudev is subject to regulatory and shareholder approvals.