According to Inc42, Swati Rustagi, Chief Human Resources Officer of an Indian multinational financial technology company, Paytm has resigned and currently serving her notice period.
She will be joining Adobe. Her experience in Paytm spans across various specialties of Human Resources management such as Employee Relations, OD, Talent Management, L&D, and HR business partner roles.
Alumna of Tata Institute of Social Sciences, Swati has over 22 years of HR experience with top-notch companies like Hindustan Unilever Limited, DSP Merrill Lynch, Johnson & Johnson Medical, Glenmark Pharmaceuticals, Max Health Care, and Amazon.
Recently in May month, the company announced the following changes in the leadership:-
- Bhavesh Gupta transitions to an advisory role, offering guidance for Paytm’s growth initiatives.
- Varun Sridhar transitions to Chief Executive Officer of Paytm Services Private Limited, focusing on the distribution of mutual funds and wealth management products.
- Appointed Rakesh Singh as the new Chief Executive Officer of Paytm Money.
The leadership changes were announced to focus on profitable business expansion and committed to regulatory compliance.
Earlier in April, Surinder Chawla, Managing Director and CEO of Paytm Payments Bank submitted his resignation on Tuesday, April 9.
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The restructuring follows as on January 31, 2024, Reserve Bank of India (RBI) issued notice to Paytm Payments Bank and restricted accepting fresh deposits and doing credit transactions after February 29, further, this date was extended to March 15, 2024.
Post March 15, no fund transfers are allowed either, which means that unless Paytm finds a new banking partner or partners, it will not be able to offer most services on its App.
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