Paytm reappoints Vijay Shekhar Sharma as MD And CEO

He was re-elected during the company's first AGM as a listed company.

The shareholders of the digital payments and financial services company, based out of Noida, One97 Communications has recently reappointed Vijay Shekhar as managing director and chief executive officer of Paytm for another five years. As per the report, 99.67 per cent votes were in favour of Sharma's re-appointment while 0.33 per cent voted against the resolution.

"Sharma's remuneration is fixed for the next three years without any annual increment, unlike the policy or practice applicable to all other employees of the company," said Paytm in a statement.

During the annual general meeting held on Friday, Sharma, reportedly, had told that the parent company One97 does not influence the price at which the stock trades but the management is making efforts to make the firm profitable.

Paytm, on August 21, tweeted that, "Thank you to our shareholders for a heartening response to our first AGM as a listed company. With overwhelming support, our MD and CEO Vijay Shekhar Sharma will continue to lead and guide us. All resolutions from our 22nd AGM have been duly passed."