Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Ms. Metilda Stanley, Sr Vice President, Operations, HDFC Life
- Mr. Ruchit Jangid, Former Business Head, SOTC Travel Ltd
- Mr. Piush Kothari, Head of Business Operation, Walt Disney Direct to Consumer & International
- Mr. Arun Tanksali, Co-founder & CTO, Nearex
- Mr. Arvind Narayanan, Co-Founder, Enlearning skill development Pvt ltd
- Mr. Dharmesh Mehta, Product Manager, Gulf International Bank
- Mr. Sunil Kulkarni, Joint Managing Director, Oxigen Services (India) Pvt Ltd
- Mr. Balaji Vishwanath, Head-Global Digital Acquisition, Standard Chartered Global Business Services
- Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Check out this headline; “Aditya Puri sells HDFC Bank Stake valued at Rs. 156 Cr”
Aditya Puri, CEO of HDFC Bank who literally built this bank right from the scratch and will retire this October as he turns 70 [70 being the retirement age of Chiefs of private sector banks, whereas for public sector banks the retirement age is 60 and RBI seems unlikely to accept the proposal to extend the age limit] So here’s the first critical question that comes in mind why is senior management team member selling his stocks before retirement?
FIAKS community raises this question- Isn’t it creating doubt on efforts put in on the succession planning within the bank? Or is the organization over-dependent on a few top leaders?
Well, Management selling their shares is their prerogative. There are a few cases where there needs to be oversight – mostly to do with insider trading – but other than that there are reasons for any restriction. The questions about doubt on succession planning and over-dependency are valid – but then these are absolutely the questions that the market is well placed to vote with their wallets on.
Well, Shouldn’t these officials be banned from selling stocks one year before and one year after leaving the organization? REGISTER and READ the complete discussions