Carol Furtado likely to become Ujjivan Small Finance Bank’s interim MD, CEO

By: |
August 21, 2021 5:30 AM

The board of Ujjivan Financial Services has recently nominated Ghosh as a common (non-executive, non-independent) director on the bank board to provide oversight on some critical areas like portfolio quality and people management.

Ghosh said Carol Furtado is the top candidate to become the interim CEO of the bank.Ghosh said Carol Furtado is the top candidate to become the interim CEO of the bank.

Ujjivan Small Finance Bank is scheduled to hold a board meeting on August 25 to appoint an officer on special duty (OSD) to oversee the bank as Nitin Chugh has tendered his resignation from the position of the MD and CEO.

“Ujjivan SFB will have a board meet on August 25. We have to appoint a person temporarily at the place of Chugh. First, the person will be appointed as the OSD to oversee the bank as Chugh will be with the bank till September 30. After September 30, the person can become the interim chief executive officer until we get a permanent CEO,” Samit Ghosh, founder of Ujjivan, told FE.

The board of Ujjivan Financial Services has recently nominated Ghosh as a common (non-executive, non-independent) director on the bank board to provide oversight on some critical areas like portfolio quality and people management. Ghosh said Carol Furtado is the top candidate to become the interim CEO of the bank.

“We will consider Furtado for the OSD to oversee the bank in the August 25 board meet. She is with us since 2005. She is a veteran with Ujjivan. She had managed a lot of crises, including the Andhra Pradesh crisis. She also managed the bank during the difficult times of demonetization. She was running operations and heading HR. She left the bank around a year ago,” he said.

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