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Ujjivan begins succession plan, Samit Ghosh to retire in Nov 2019

Ujjivan begins succession plan, Samit Ghosh to retire in Nov 2019

Finance
KOLKATA: Ujjivan Small Finance Bank has begun its succession planning because its founder-cum-chief executive Samit Ghosh is scheduled to retire in November next year. The bank has shortlisted half a dozen candidates for the CEO’s position and is planning to submit a list of three candidates to the Reserve Bank of India by December for its approval. Succession planning, or the absence of it, has been a weak spot in Indian banking, and there are no dearth of examples with the government-owned banks leading the pack. The delicate issue of succession has been highlighted in case of Axis Bank, ICICI Bank and Yes Bank as their chiefs have exited, or are on their way out. “We would like to appoint the new CEO in such a way that there should not be more than six months of overlap,&rdq...