Bhavesh Gupta, President and Chief Operating Officer of Paytm, has decided to step down from his position due to personal reasons. Gupta, who oversaw the payments and lending businesses at Paytm, will assume an advisory role until the end of the year, offering guidance on the company’s growth initiatives. The former COO informed Paytm founder Vijay Shekhar Sharma of his decision in a resignation letter, expressing his gratitude for the opportunity to work at the company and requesting to be relieved from his duties by the close of business on May 31, 2024.
Gupta’s resignation coincides with Paytm’s upcoming release of its financial results for the March quarter of 2024. The company’s financial performance may be impacted by the restrictions imposed on its associate firm, Paytm Payments Bank Limited (PPBL).
As part of a leadership restructure, Paytm has appointed Rakesh Singh as the new Chief Executive Officer of Paytm Money. Varun Sridhar, who previously headed Paytm Money, has transitioned to the role of CEO of Paytm Services, which handles the distribution of mutual funds and other wealth management products.
