Anirban Mukherjee, head of PayU India, has been promoted to CEO of PayU’s global parent company as the Prosus-backed fintech adopts an India-focused strategy.
Laurent Le Moal, who has served as the global CEO of PayU since 2016, will step down from operational leadership of the company’s day-to-day operations as a result of Mukherjee’s promotion, according to a statement released by Prosus on Tuesday. Le Moal will continue to work with Prosus and PayU in an advisory capacity.
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“I want to thank Laurent for the pivotal role he’s played in shaping and driving the global payments and fintech strategy for Prosus over the past 8 years. I’m happy that he will remain on board to help us with the next phase in the development of the business. As part of the transition to an Indian-focused strategy for PayU, now is the right time for Anirban to run the PayU business,” said Ervin Tu, the group’s chief investment officer.
Last month, Moondhra announced his resignation from the fintech company on the professional networking site LinkedIn.
In order to concentrate solely on business in India, Turkey, and Southeast Asia, Prosus sold PayU’s Global Payments Organisation (GPO) to Israeli’s Rapyd for $610 million in August. Operations in places like Africa, Central and Eastern Europe, and Latin America were all part of PayU’s global business.