HDFC Bank: After Puri's move, it might be a good time to book profits

Change is the only constant, and when an "icon" has to make way for a successor, there is normally a turbulence, both within the organisation as well as outside, especially among the stakeholders

A founding professional CEO, having spent a considerable time at the helm, taking the organization to stratospheric levels in terms of financial performance, brand value, and wealth creation for the stakeholders, becomes an icon, someone irreplaceable. At the beginning of this century, when the Indian stock markets were realising the importance of corporate governance and willingly paying a premium, companies like HDFC Bank, Infosys, TCS, Wipro, HUL were seen as the leaders, setting benchmarks and were considered the gold standard for corporate governance.

Change is the only constant, and when an “icon” has to make way for a successor, there