The managing director and CEO of Ujjivan Financial Services, Sudha Suresh has stepped down from her role after working with the company for more than nine years. However, she will continue to perform in her present role and stay with the company until June 30, 2018. The board accepted the resignation in a meeting held on 23rd April 2018. As per the regulatory filing, Sudha Suresh has resigned due to personal reasons.
"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," said the company in a regulatory filing.
Current Chief Operating Officer (COO) Ittira Davis will replace her and join as the new CEO, subject to RBI approval and shareholders' nod.
Sudha Suresh was appointed as MD and CEO in February 2017. Prior to that, she was the CFO of the company. She is a Chartered Accountant, a qualified Cost Accountant and also Company Secretary. During her association with Ujjivan, she has been responsible for areas of Strategic Business Planning and Budgetary Controls, Equity Capital, and Debt Syndication, Treasury Management, Accounts, and Taxation as well as management of Board and regulatory compliances.
In November 2016, Ujjivan Financial Services had received small finance bank license from the RBI and last year, in February it kick-started Ujjivan Small Finance bank (SFB) operations from Bengaluru.