mumbai ujjivan financial services has informed the stock exchange that a resolution to appoint its founder samit ghosh as ceo failed to get the requisite 75 shareholder votesthe board of the ujjivan had proposed ghosh for ceo after incumbent ittira davis resigned to take up a directorlevel position in ujjivan small finance bank ghosh is currently the nonexecutive chairman of ujjivan financial servicesaccording to the filing with the stock exchanges the proposal received only 70 of votes in favour investors in the company are mostly private equity fundsujjivan finance which was in the microfinance business had received rbis permission to set up a small finance bank in 2015 following this the lending business was moved to ujjivan small finance bank in 2017 and ghosh moved to the bank as ceosince rbi norms required promoters to hold a 40 stake in the small finance bank ujjivan finance changed its structure to that of a holding company and the bank as a subsidiary in 2019 the bank appointed nitin chugh from hdfc bank as its ceo and ghosh moved to the holding company