As per the Economic Times (ET), top executives of Paytm have resigned before its Initial Public Offering (IPO) of $2.3 billion.
According to two sources familiar with the matter, Noida-based Paytm’s president Amit Nayyar had tendered resignation. In addition, the chief human resources (HR) officer Rohit Thakur along with three vice presidents has quit the digital payments firm as well.
A former executive of Goldman Sachs, Amit Nayyar was hired in the year 2019 with an aim of building up the company’s financial services arm. He was proved to be significant in propelling its insurance and lending verticals.
Regarding Nayyar leaving the firm, a source directly familiar with the matter said that the timing of his exit was “intriguing” considering his position of President. “Only Madhur Deora now has the President tag in the company”, the source continued, as reported by ET.
Meanwhile, Rohit Thakur, who joined the firm in 2019 resigned in the first week of June after serving his notice period. Earlier, Thakur had worked as Accenture’s HR Head.
About Rohit Thakur’s resignation, the source said he was “relatively new” in the company and that managing HR in a large organization like Paytm, especially in the run-up to IPO could be “challenging.”
The firm responded to ET’s e-mail saying that, “As a company, we do not comment on personnel changes. We have built an incredible management team with some of the reputed names in the industry, who are focused on driving growth at Paytm.”
