PayU Payments appoints five new members to its board of directors

PayU Payments has appointed five new members to its board of directors as it looks to strengthen its corporate governance and risk management practices, as per an ET report.

PayU has appointed Renu Sud Karnad, president of International Union of Housing Finance (IUHF) and former managing director of Housing Development Finance Corporation (HDFC), as chairperson and independent director to its board as per the report.

Laurent Le Moal, who stepped back from the role of global PayU CEO in October last year and continued as an advisor, has joined as a non-independent director to the board.Jan Bune, who has previously served as independent chairman to the risk advisory committee at PayU, has also joined the board as non-independent director.

Gopika Pant, managing partner at Indian Law Partners, and Jairaj Purandare, founder chairman of JMP Advisors, too, have joined the board as independent directors.

The new directors join chief executive officer Anirban Mukherjee and chief finance officer Arvind Agarwal on the board of PayU India.

“We're delighted to have built an outstanding board to offer us counsel and guidance as we build a full stack of digital financial services to serve India, advance digitisation and drive financial inclusion,” Mukherjee said.

The board additions also come in at a time when PayU India is working towards a public listing and has begun the process internally, ET had reported on August 2.