Three Senior Executives Quit Fintech Firm Paytm, Says Report

New Delhi: Noida-headquartered fintech firm Paytm’s three senior executives in quick succession have quit the company that recently listed on the stock exchange, according to a report on Thursday.

According to a report in Mint, the three officials who have resigned are Abhishek Arun, chief operating officer (COO)of Paytm Payments Bank; Renu Satti, COO of offline payments, and Abhishek Gupta, senior vice-president and COO.

Arun in a LinkedIn post a week ago said, “After a fulfilling six years at Paytm (across One97 & Paytm Payments Bank) I’ve made the difficult decision to leave the company and explore new opportunities.”

Satti has been with Paytm since 2006, having served in many roles across business lines.

Gupta, who joined Paytm last year as senior vice-president and COO-lending, has resigned and is currently serving his notice, said Mint.

However, Paytm did not issue any statement on the news of the resignations so far.

The Noida-based firm has seen several exits in the past two years.

Earlier this year, five senior Paytm executives had quit ahead of its initial public offering (IPO). Amit Nayyar, Paytm president, Rohit Thakur, chief HR officer, and three other vice-presidents had resigned from their positions.

The Noida-based firm had rolled out its IPO in November. Even as Paytm’s parent entity One 97 Communications Limited raised $2.5 billion in IPO, its shares crashed 27 per cent on their market debut.

Paytm’s stock price rose over 1.7 per cent to Rs 1,365 on the National Stock Exchange — over 35 per cent lower than the issue price of Rs 2,150 on Thursday.

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