Ujjivan Financial Services today said its Managing Director and Chief Executive Officer Sudha Suresh has resigned from the company due to personal reasons.
Suresh will stay with the company till June 30, 2018, it said in a regulatory filing.
"The board at its meeting held today has accepted...her resignation and has appreciated the invaluable contributions of Sudha Suresh during her long tenure of around nine years with the company as the CFO and further the MD and CEO for over a year," the company said.
Suresh will be replaced by Chief Operating Officer (COO) Ittira Davis, subject to RBI approval and shareholders' nod.
Ujjivan said Davis is not related to any director of the company and has been an international banker with over 36 years of corporate and investment banking experience. He has worked extensively in the Middle East and Europe.
Ujjivan Financial Services had received small finance bank licence from the RBI in November 2016. It kick-started Ujjivan Small Finance bank (SFB) operations from February 2017 from Bengaluru.
Stock of Ujjivan Financial closed 2.36 per cent up at Rs 400.90 on BSE.
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