IPO-bound Paytm’s president Amit Nayyar as well as the company’s chief human resource officer (CHRO) Rohit Thakur have resigned from the firm, a source aware of the discussions said on Friday.
Nayyar led Paytm’s foray into financial services verticals across lending, insurance distribution, non-life insurance, wealth management and stock broking, according to his LinkedIn profile. At the group level, he also steered corporate development, M&A and key external senior relationships. Prior to joining the fintech firm in August 2019, Nayyar was employed with Arpwood Capital in the capacity of a managing director.
Thakur left the company last month. He had been with Paytm for close to two years.
“As a company, we do not comment on personnel changes. We have built an incredible management team with some of the most reputed names in the industry, who are focused on driving growth at Paytm,” a company spokesperson said in a statement.
Paytm is understood to have recently reshuffled its board.
The development comes ahead of the company’s extraordinary general meeting on Monday where it is expected to seek shareholder approval for its upcoming IPO. According to reports, the company is planning to file its preliminary IPO documents with Sebi next week and is seeking to raise $2.3 billion.