OYO, a hospitality platform, announced that Rakesh Kumar has been promoted to Chief Financial Officer (CFO) effective January 1, 2024.
The company released a statement stating that current CFO Abhishek Gupta will remain with the company in an advisory and mentorship role.
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The company stated that in his new position as CFO, Kumar, who is presently serving as Deputy Chief Financial Officer, will continue to lead financial strategy and operational effectiveness, as reported by dtnext.
“Rakesh’s elevation to the role of CFO is a crucial milestone in our pursuit of financial stability. His leadership comes at a time when we continue to implement measures to enhance profitability and fortify our financial foundation,” OYO Founder & CEO Ritesh Agarwal said.
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Kumar has been with OYO for the previous six years, and during the COVID-19 pandemic, he has been crucial to the company’s financial well-being. Strategic acquisitions as well as effective debt and equity financing were made possible by his leadership.
About OYO
OYO is a global platform that offers full-stack technology products and services to empower entrepreneurs and small businesses with hotels and homes. Its goal is to increase revenue and streamline operations while offering customers worldwide easy-to-book, reliable, and affordable lodging.
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Customers that run over 157K hotel and home shops in more than 35 countries, including India, Europe, and Southeast Asia, can choose from more than 40 integrated products and solutions offered by OYO.
