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CEO Resigns Due to Health, Interim Leader Appointed
1 Sep
Summary
- CEO Sanjeev Nautiyal resigned from Ujjivan SFB for health reasons.
- Carol Furtado appointed as interim CEO, pending regulatory approval.
- Bank's share price dipped 5.4% following the leadership announcement.
Sanjeev Nautiyal has stepped down as the managing director and chief executive officer of Ujjivan Small Finance Bank due to health grounds. His resignation was accepted by the board on September 1, 2026. Executive director Carol Furtado has been appointed as the interim CEO, pending approval from the Reserve Bank of India.
The bank announced it will begin the process to identify a successor for Nautiyal, who had assumed leadership on July 1, 2024, for a three-year term. Nautiyal will remain on leave during his three-month notice period and formally retire on November 30, 2026.
This leadership transition occurs as Ujjivan SFB focuses on diversifying its business and reducing its reliance on unsecured microfinance loans. The bank's share price fell 5.4% to 65.40 on the BSE following the announcement.
Carol Furtado, an experienced banker with over three decades in the industry, including a role in Ujjivan's foundational leadership, expressed confidence in business continuity. The bank's board noted that leadership development initiatives ensure a seamless transition.
