HDFC Board felicitating Deepak Parekh , Chairman HDFC Ltd. Keki Mistry – VC & CEO, P. R. Ramesh – Non Executive , Non-Independent Director, Ms. Renu Sud Karnad- MD and V. S. Rangan – ED are additionally seen.
Deepak Parekh, chairman, Housing Development Finance Corporation Ltd., (HDFC) on Friday introduced his retirement ahead of the merger of HDFC Ltd. with HDFC Bank Ltd, ending his 45-year affiliation with the mortgage lender.
In 1978, Mr Parekh had left his job in Chase Manhattan Bank to affix his uncle H.T. Parekh who had arrange HDFC Ltd., a 12 months earlier than on the age of 65, to offer finance to center class Indians to personal a house.
“It is my time to hang my boots with both anticipation and hope for the future. While this will be my last communication to shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity.” Mr Parekh mentioned in a letter to HDFC Ltd’s shareholders.
“The HDFC experience is invaluable. Our history cannot be erased and our legacy will be taken forward,” he mentioned.
He mentioned as HDFC arms the baton, “my wish is that our core founding values of kindness, fairness, efficiency and effectiveness gets woven deeper into the fabric of the HDFC group.”
“To all our employees transitioning to HDFC Bank, know that you will always carry the indelible mark of ‘HDFC’ with you. This is your era of new possibilities. Embrace change, continue to work as close-knit teams, be kind and have each other’s back. The future is yours to grasp,” he added.
Mr. Parekh mentioned the most important threat organisations face at present “is staying with the status quo, believing what worked well yesterday will continue in the future. Change takes courage as it displaces one from the cocoon of comfort and familiarity.”
“Yet, with change comes the power of adaptability, growth and new aspirations. The orchestration of this merger is to ensure that the future is not constrained for any of our stakeholders,” he mentioned.
