Friday’s shareholder vote will determine whether or not the billionaire Paytm founder should continue to lead the fintech pioneer that had one of the worst debuts in Indian IPO history.
At the company’s annual general meeting, which is being held digitally this afternoon, votes will be cast on several issues, including Vijay Shekhar Sharma’s position as CEO. Last week, a proxy advisory firm advised shareholders to remove the founder from his position as CEO due to doubts about his capacity to turn around losses at the payments provider.
Vijay Shekhar Sharma is the founder and CEO of One97 Communications. Sharma pledges to increase lending to support growth while generating $1 billion in revenues, on the way to profitability.
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