Paytm’s founder Vijay Shekhar Sharma reaches out to former executives in bid to revive company: Report

NEW DELHI: Paytm‘s founder and CEO, Vijay Shekhar Sharma, is reportedly reaching out to former executives of the company as part of efforts to rejuvenate the embattled firm. As per a report in Moneycontrol, Sharma has contacted individuals such as Renu Satti, Kiran Vasireddy, and Nehul Malhotra, among others, urging them to rejoin the company.
Moneycontrol reported, citing sources, that, “Talks with Vasireddy and Malhotra, who could be leading the user growth initiative at Paytm, were initiated sometime back.Vijay has been in touch with his close aides and wants to rebuild the whole team as he takes direct charge of each business.”
In response, Paytm stated that such claims are speculative, emphasizing their focus on promoting internal talent to leadership roles and robust succession planning. “We have not reached out to nor are we in discussions with former executives. We have been focusing on strengthening the roles of our next line of leaders internally and ensuring strong succession planning,” the report quoted a Paytm spokesperson.
The company has faced challenges, including a loss of UPI market share and a decline in share price following regulatory restrictions imposed by the RBI on Paytm Payments Bank Limited (PPBL).
The report also suggest that Sharma has been actively taking charge of various verticals to drive growth, reduce customer attrition, and enhance confidence among partners, merchants, and customers.
Amid internal rumblings, Sharma’s efforts to reconnect with former colleagues are seen as strategically significant.
The report also claimed that Vijay Shekhar Sharma has met IndusInd Bank’s Sai Giridhar to discuss a potential partnership however the outcome of the discussion remains uncertain.
“The team has been on a lookout for a senior experienced banker. It’s still nascent but something may come out soon,” the report claimed citing sources.