Paytm gives its founder 5 more years at the helm

MUMBAI: Paytm founder Vijay Shekhar Sharma has been reappointed by the board as MD & CEO of the parent company One97 Communications for five years up to December 2027. The board also appointed CFO Madhur Deora as whole-time director for five years, the company said.
The board of One97 Communications also approved a Rs 950-crore investment across tranches for its joint venture Paytm General Insurance (PGIL) company. PGILincorporated as a49:51 JV between One97 Communications and Sharma’s VSS Holdings. The board has approved hiking its stake and converting the company into a subsidiary with 74% stake.