Paytm's Madhur Deora to leave Board, to continue as President & Group CFO

Madhur Deora, executive director, president, and group chief financial officer, will cease to be the director and executive director following the conclusion of the upcoming Annual General Meeting (AGM), according to the company's regulatory filing.

However, Deora will continue as the president and group CFO of the company, and will also support the CEO in expanding the business & strengthening profitability.

Bimla Julka, who was the non-executive independent director, stepped down from his position in order to explore his areas of 'emerging technologies and ease of doing business'. On the other hand, Urvashi Sahai has been appointed as an additional director for a five year term.

Prior to joining Paytm in October 2016, Deora spent 17 years at Citi Investment Banking in a career which spanned New York, London and Mumbai. In his last role at Citi, he was the managing director and was responsible for telecom, media, technology, internet and private equity clients in India and led several landmark deals.

In 2015, he also led the fund-raising discussions for Paytm with Ant Financial and Alibaba.

Deora graduated cum laude from the Wharton School of the University of Pennsylvania and graduated cum laude from Phillips Exeter Academy.

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