12 Aug 2022 , 12:58 PM
After proxy advisory firm, Institutional Investor Advisory Services India (IIAS) recommended shareholders of Paytm parent to vote against Vijay Shekhar Sharma’s reappointment as its chief executive and against his salary, shares of One 97 Communications fell more than 5% in Friday’s trading.
According to IIAS, Vijay Shekhar Sharma has already made a number of promises to turn the business profitable, but none of them have materialized.
The board “must consider professionalizing the management,” IIAS stated prior to the annual general meeting of Paytm on August 19.
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