Snapdeal-backed FreeCharge has reshuffled its top management elevating chief operating officer (COO) Govind Rajan as its new CEO. Co-founder and CEO Kunal Shah will now move to a new role as the Chairman at the digital payments company, FreeCharge said in a statement. In April last year, Snapdeal had acquired Freecharge in the one of the biggest deals in the e-commerce sector. While the companies had not disclosed the deal size, it was estimated to be a USD 400 million transaction. "Govind has led with great insight and initiative. His understanding of the payments industry and its future trends is equally matched by his discipline and ability to get things done. In Govind, we have an exceptional leader," Shah said. Rajan had joined Snapdeal last year from Airtel, where he was serving as the CEO for Airtel Money. Later, he was given the additional responsibility as the COO of FreeCharge. "Kunal has built a great tech team and an iconic brand. It is a privilege to take the baton from him. We are fortunate to have his guidance as the Chairman and mentor-in-chief," Rajan said. FreeCharge, which offers mobile recharge and utility bill payment services, had started mobile wallet service last year.