Samit Ghosh on choice of Nitin Chugh as Ujjivan CEO
“Chugh has experience in retail on the asset side, card side and on the liability side.”
Congratulations on choosing Nitin Chugh as the next MD & CEO. Why did you decide on him?
The board and the management started the succession planning in April last year. It will be almost over a year and we were very clear about what kind of candidate we were looking for. We wanted someone who is attuned to the objectives of Ujjivan which is financial inclusion; Second, someone with very strong background in technology implementation especially digital space which will help us scale up. Third, we have a very strong team and we wanted a leader who is very inclusive and will be able to take our current team forward.
Those were the three criteria by which Nitin stood out as the top most candidate and we are very happy to have him with us.
How is the board planning to utilise Mr Chugh’s skill set and experience for strategic benefits for growth in the target area?
He has 25 years of experience in retail banking, of which almost 20 years is with HDFC Bank and his experience has been across all retail on the asset side, card side and on the liability side. It has been in all the different areas. He has got a very wide experience base which will help us including in branch banking. But most importantly, he headed the digital initiative for HDFC Bank. When he joined HDFC Bank way back in 2001, the number of transactions undertaken by HDFC on the digital mode was 3% and today it is 85%, an incredible achievement!
He was a part of that team which took HDFC on that journey and that would be very valuable for us in the next years to come.