On Thursday it said it has appointed Sanjeev Barnwal as its new Chief Executive Officer. The Board of Directors of the Company in its meeting on Thursday considered and unanimously approved meeting Sanjeev Barnwal as chief executive officer, it said in a regulatory filing.

His appointment will be effective from Friday (10 September 2021).

Ujjivan Financial said Barnwal will continue as company secretary (CS) and key managerial personnel (KMP) of the company.

His promotion comes as former chief carol furtado Took over as CEO of the subsidiary last month.

He has over 17 years of corporate experience. Prior to joining Ujjivan, he was associated with SMC Capitals Limited as Associate Vice President and CS.

Ujjivan said Barnwal’s corporate and investment banking experience and active interaction with regulators, and long-standing association with Ujjivan will continue to add value to his larger role and responsibility as CEO of the company.

He holds 6,000 equity shares (0.005 per cent stake) in the company.

Shares of the company closed at Rs 157.20 on the BSE on Thursday, up 9.81 per cent from the previous close.