Road to succession to be a smooth affair: HDFC chairman Deepak Parekh

Ensuring 'frictionless transition' top priority; boards will need 18-24 months to evaluate options, says HDFC group chairman

Housing Development Finance Corporation (HDFC) Chairman Deepak Parekh has said the task of ensuring “frictionless transition” in HDFC group entities is top in his mind.

Succession planning is key agenda for all the groups’ boards and they believe such planning needs 18-24 months to ensure a smooth transition, Parekh said in his annual communication to shareholders.

While leaders within HDFC are passionate about their jobs, reality is that individuals do get on in age, he said. “There is a strong pipeline of talent for various functions across companies in the group. Yet, positions at the helms need boards and their panels to