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Paytm Appoints Rajeev Agarwal as Independent Director

By Team VS
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Paytm has appointed Rajeev Krishnamuralilal Agarwal as a non-executive independent director of the company, as announced on Monday.

Agarwal will commence his employment at Paytm immediately and will serve for a period of five consecutive years. Aggarwal, a former Indian Revenue Service (IRS) officer, is presently employed as an independent director at companies including U GRO Capital, Star Health, TRUST Mutual Fund, and ACC Limited.

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Paytm Group has been undergoing a top-level restructuring for an extended period. Bhavesh Gupta, the chief operating officer and president of Paytm, submitted his resignation last month, citing personal reasons.

Surinder Chawla, the managing director and managing director of Paytm Payments Bank, has submitted his resignation. Sumit Mathur, Paytm's chief marketing officer (CMO), and Varun Sridhar, Paytm Money's CEO, both resigned from their respective roles in the same month.

The company is also contemplating the sale of its cinema and ticketing business to the food tech giant Zomato.

Vijay Shekhar Sharma, Founder & CEO, Paytm, said: "I am very happy to welcome Shri Rajeev Agarwal to the Paytm board. His expertise in regulatory and government-related matters will be an invaluable addition to our board,"

About Paytm

Founded in 2010 by Vijay Shekhar Sharma, Paytm started the Digital Revolution in India. Paytm become India’s leading Payments App. Today, more than 20 Million merchants & businesses are powered by Paytm to Accept Payments digitally.

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