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Paytm CBOs Bipin Kaul, Ajay Singh resign as company takes up restructuring: Report

Paytm CBOs Bipin Kaul, Ajay Singh resign as company takes up restructuring: Report

| @indiablooms | 07 May 2024, 04:07 pm

Noida: Ahead of Paytm’s announcement of its yearly and fourth-quarter financial results later this month, two senior officials have stepped down, adding to a growing trend of top-level departures at the Noida-based mobile payments company, media reported.

Ajay Vikram Singh, the Chief Business Officer (CBO) in charge of UPI and User Growth, and Bipin Kaul, the CBO leading Offline Payments, are both slated to leave the company, Moneycontrol reported citing three sources familiar with the matter.

Paytm said in a statement to Moneycontrol that the organization is currently undergoing a restructuring effort, and these adjustments are part of its strategy to bolster the next generation of leadership within the firm.

"We are committed to ensuring sustained growth across key business verticals as we are going through a restructuring initiative that signals a reinvigorated approach under Paytm’s CEO," it said.

This comes close on the heels of the departure of the President and COO of Paytm Bhavesh Gupta, who was also a trusted confidante of founder Vijay Shekhar Sharma.

Gupta was widely known for his role in establishing and expanding Paytm's lending arm.

Although Paytm cited personal reasons for Gupta's departure, it comes amidst a company’s broader restructuring effort to strengthen its leadership team.

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