Paytm's Madhur Deora elevated as CFO of One97 Communications
Paytm, India's leading digital payments and financial services platform, has elevated Madhur Deora to take on the additional responsibility as the CFO of One97 Communications Limited. Currently, Deora plays the role of the company's Group President and CFO.
Deora has been associated with the company for five years now and holds a bachelor's degree of science in economics from the Wharton School of the University of Pennsylvania.
Paytm has a strong leadership team, led by people who bring years of expertise with them and paytm is further planning to hire over 30 senior leaders for product, technology and business roles, while it doubles down on growth in the credit and lending sector, offline payments leadership, along with other financial services.
Meanwhile, multiple sources have confirmed that Vikas Garg, the company's CFO is moving on as he wishes to relocate to an international location.
In an exchange filing, where Paytm announced the expansion of its leadership team, the company had said that Renu Satti's exit was the only voluntary exit in the company and that the management team is greatly augmented by several recent additions in offline payments and financial services.
However, the exits haven't come as a surprise to many as it is commonplace in many companies which have gone for IPO. This has been seen in IPOs over the years, including in that of Zomato, whose co-founder Gaurav Gupta quit after the company's market debut.