After several weeks of rumors about his differences with the company, Pravin Jadhav, the Managing Director and CEO of Paytm Money has resigned from the company.
According to a news report by Entrackr, Jadhav had submitted his papers last week and it is being reported that he will be relieved by the end of April.
As per the sources mentioned in the report, Jadhav’s resignation was announced internally by Paytm President Amit Nayyar. The reason for his resignation is said to be the differences over ESOPs, annual salary, and remuneration. Reportedly, the company’s board declined to agree to Jadhav’s proposal.
Jadhav was elevated to the position of MD and CEO in September last year. He had been associated with the wealth management platform since its inception. Jadhav had served with the payment giants since June 2017 in various roles like a consultant, director, and MD.
However, there has not been any confirmation about Jadhav’s departure by the company and neither has Jadhav come out in public with the news.
There is also no news about Jadhav’s successor but according to sources close to the development, Paytm may have shortlisted someone for the job.
Paytm Money is one of the big bets played by the payments unicorn. It was founded in 2019 by Jadhav and so far has over ₹5000Cr assets under its management.
Sandeep is a journalism and mass communication graduate with a keen interest in politics and business. He is a part of Research & Content team at HrNxt.com.