The parent company of One 97 Communications Ltd (OCL), which owns and runs the Paytm brand, has announced the resignation of Bhavesh Gupta, its president and chief operating officer. The fintech company notified stock exchanges of this development on Saturday.
By the end of this month, Gupta will be moving into an advisory position at the Paytm CEO Vijay Shekhar Sharma‘s office.
In addition to Gupta, the CEO of Paytm Money, Varun Sridhar, has also changed positions within the organisation. He has been named CEO of Paytm Services, a subsidiary company that distributes wealth products and mutual funds.
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“Our focus on payments and lending is stronger than ever, and I will work with the seasoned leaders that we have in each of our businesses to execute our plans,” said Paytm founder and CEO Vijay Shekhar Sharma, commented.
The new CEO of Paytm Money, Singh, will concentrate on developing technology-driven wealth solutions for young Indians, he continued, while Sridhar will lead Paytm to increase its penetration of mutual funds and wealth management products.
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