Ujjivan Financial Services Ltd appoints Mr. Sanjeev Barnwal as CEO

The Board of directors of Ujjivan Financial Services Ltd today based on the recommendation of the Nomination and Remuneration Committee, has considered and unanimously approved the appointment of Mr. Sanjeev Barnwal, as Chief Executive Officer (CEO) effective from September 10, 2021 as per Section 203 of the Companies Act, 2013; he will continue to be the Company Secretary (CS) and Key Managerial Personnel (KMP) of the Company.

Mr. Sanjeev Barnwal is a qualified Company Secretary from the Institute of Company Secretaries of India and holds a Bachelor's degree in Law and a Diploma in Business Management. He also received NSE's Certification in Financial Markets (NCFM) for Compliance Officer (Corporate) Module. He has a corporate experience of over 17 years and prior to joining Ujjivan, he worked with SMC Capitals Limited as Associate Vice President and Company Secretary.

He has been a senior team member of the Company for over 7 years and has played pivotal roles in several key milestones including private equity raise, IPO & listing, banking licence application and processing, formation of the subsidiary, restructuring through slump sale and listing of the Bank. His corporate and investment banking experience plus his active interactions with the regulators, stock exchanges, investors, investment bankers, legal counsels, auditors and long association with Ujjivan will continue to add value in his larger role and responsibility as the CEO of the Company.

Ms. Carol Furtado who was recently appointed as the CEO effective from August 13, 2021 resigned from the Company effective from August 25, 2021 (close of business hours) to take up a larger role at our subsidiary, Ujjivan Small Finance Bank Limited.

Shares of Ujjivan Financial Services Limited was last trading in BSE at Rs. 157.2 as compared to the previous close of Rs. 143.15. The total number of shares traded during the day was 486646 in over 9925 trades.

The stock hit an intraday high of Rs. 157.45 and intraday low of 141.85. The net turnover during the day was Rs. 73217641.

Source : Equity Bulls

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