Paytm, a leading digital payments company, is undergoing significant senior-level changes as Ajay Vikram Singh, Chief Business Officer (CBO) of the UPI and User Growth vertical, and Bipin Kaul, CBO of Offline Payments, have stepped down amidst an "ongoing restructuring."
In a statement, Paytm expressed its commitment to sustained growth across key business verticals, stating, "We are going through a restructuring initiative that signals a reinvigorated approach under Paytm’s CEO."
The company emphasised that these changes are aimed at strengthening its next line of leaders. Last week, One97 Communications Ltd. (OCL), the parent company of Paytm, announced plans to expand its leadership team to develop a large and profitable payment and financial services distribution business.
"These robust leaders will work directly with the CEO and other senior management leaders, fostering innovation and strengthening the group structure for sustainability and regulatory compliance," stated Paytm.
Regarding leadership transitions, Bhavesh Gupta, President and Chief Operating Officer, is taking a career break due to "personal reasons" and will transition to an advisory role.
In addition, within its wealth subsidiary, Paytm Money Ltd (PML), Rakesh Singh has been appointed as the new CEO, while Varun Sridhar, former head of Paytm Money Ltd, now leads as CEO at Paytm Services Pvt Ltd (PSPL).
"As and when we have further updates, we will continue to engage with concerned stakeholders," Paytm concluded.
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