Paytm turmoil ahead of IPO, resignations of several executives including President Amit Nayyar
New Delhi. Before the Initial Public Offer (IPO), there was turmoil in the giant digital payments company Paytm. The company is about to apply for the IPO at the end of July, but before that many senior executives of the company have resigned. According to media reports, many top officials, including the President of Paytm, have resigned. These include Chief HR Officer Rohit Thakur.
Amit Nayyar resigned from his post last month. He was heading the financial services division of Paytm. Nayyar had joined the company in August 2019. Nayyar was looking after the business of Lending, Insurance, Distribution, Wealth Management and Stock Broking of the company. Prior to joining Paytm, Nayyar was working as a Managing Director at the advisory firm Arpwood Capital. Paytm’s board has accepted Nayyar’s resignation.
Last month, the company’s chief HR officer Rohit Thakur had also resigned. He stayed in Paytm for only 18 months. Thakur and Nayyar are not the only ones who have resigned from Paytm. Many officers have already left their posts this year.