After Paytm Money CEO, CTO & Operations Head step down
By MYBRANDBOOK
Paytm Money’s Chief Executive Officer (CEO) Pravin Jadhav has recently resigned and now it is being heard that Chief Technology Officer (CTO) and Operations Head too have put down his papers.
According to sources heard, Suresh Vasudevan and Beejish Pillai have stepped out and are serving their notice periods.
“Both decided to resign parallelly with Jadhav for similar reasons,” said one of the sources cited above, requesting anonymity. While it was impossible to independently ascertain the reason behind the duo’s departure; Jadhav’s resignation was driven by differences with the company.
Vasudevan and Pillai have been with Paytm Money since January 2019. “They were the first few employees for Paytm Money after Jadhav,” added the above-quoted person.
A Paytm spokesperson confirmed their resignations. “Our CTO put in his papers back in January and is presently serving his notice period. The operations head was shuttling between our headquarters and Mumbai and has decided to move back home due to personal reasons. We have already filled these positions and have charted out an expansion plan,” said the spokesperson in a response to a news channel queries.
Paytm Money is one of the major bets by Vijay Shekhar Sharma after Paytm Mall. It has emerged as a leader in the online wealth management space. The company recently claimed to have over Rs 5,000 crore assets under its management.
Three resignations at the top-level certainly isn’t good news for Paytm Money and it will have an impact on the company’s operations for some time.
In FY19, the firm had spent Rs 37.62 crore to earn Rs 76.26 lakh. On a unit level, the company lost Rs 49.33 to earn a single rupee during the same time. It’s worth noting that Paytm Money had operated only for 5-6 months in the year ending March 2019 as it launched late-2018.
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