Paytm share price plunges 4% as president and COO Bhavesh Gupta resigns
Citing personal reasons for taking a career break, Bhavesh Gupta expressed confidence in Paytm's future trajectory.
![Paytm share price plunges 4% as president and COO Bhavesh Gupta resigns](https://www.psuconnect.in/sdsdsd/paytm8.jpg)
Paytm's shares declined over 4.5 percent today following the resignation of its COO and president, Bhavesh Gupta, which was announced in a regulatory filing. The shares of Paytm were trading 3.8 percent lower at Rs 355.25 on the NSE. This year, the stock has fallen 45 percent so far and has significantly underperformed the benchmark Nifty, which has risen nearly 4 percent during the same period.
Bhavesh Gupta said in a letter, as per the company's filing, that his resignation would be effective from May 31 while he continues to support the company in an advisory capacity within the chief executive's office.
Read Also : R.K. Chaudhary, CMD, NHPC met Chowna Mein, Hon’ble Dy. CM, Arunachal PradeshThe company said in the filing, “His resignation has been accepted by the Company and he will be relieved from the services of the Company w.e.f. close of business hours on May 31, 2024."
Read Also : State Coal Minister inaugurates new solar plant at CCL’s Piparwar Area
Paytm has also announced the appointment of Rakesh Singh as the new CEO of Paytm Money and Varun Sridhar, the existing CEO, has been appointed as the Chief Executive Officer of Paytm Services Private Limited (PSPL).
Read Also : WAPCOS CMD met Safarzoda Manuchehr Bakhodur Hon’ble Deputy Minister of Energy and Water ResourcesNews Must Read
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39
- HUDCO Issues Record Date For Dividend, Shares Rise 118% YTD
- NTPC Bongaigaon to Support TB Eradication Efforts; Partners with District Administration, Kokrajhar
- Solar Energy Corporation of India Ltd (SECI) attains Navratna Status
- Dr D K Sunil Takes Over as CMD (Additional Charge) of HAL
- DVC bags Champions Trophy for Corporate Sustainability at XLRI, Jamshedpur
- Minister Pralhad Joshi Visits IREDA Office, Reviews Company’s Strategic Growth Plan
- HAL Selects SAFHAL Helicopter Engines to Develop and Produce ‘Aravalli’ Engines