HDFC’s Deepak Parekh Speaks Publicly About Succession Planning
Deepak Parekh, the Chairman of Housing Development Finance Corporation Ltd. (HDFC) stated in his annual letter to the shareholders that now, he will give utmost importance to succession planning and that will be his priority. The main purpose is to ensure a smooth transition within the HDFC group.
While this session, Parekh claimed that the succession plan would take around 18-24 months for preparation. He also stated that the boards of the respective companies will consider both internal and external sources of recruitment for filling the positions.
“Personally, the task of ensuring frictionless transition is and will be on the top of my mind. That said, it is not as if there will be an announcement right away,” Parekh said. “As passionate and energetic as so...