Paytm share jumps 3.5 percent after Vijay Shekhar Sharma’s reappointment at AGM
Published On: Monday, August 22, 2022 | By: Team KnowMyStock
Paytm share price jumped more than 3.5 percent to Rs 800.05 apiece on BSE on Monday, after the shareholders of One97 Communications approved the re-appointment of Vijay Shekhar Sharma as managing director and chief executive officer of the company for five more years. Around 99.7% of the shareholders of Paytm's parent, One97 Communications, have voted in favor of a resolution to reappoint Vijay Shekhar Sharma as MD & CEO of the company and approved his remuneration. All seven resolutions passed by the Paytm board, including the reinstatement of Madhur Deora as the executive director, president, and group chief financial officer, the inclusion of Elevation Capital’s managing partner Ravi Adusumalli as a board member, and the decision on Sharma’s and Deora’s remunerations were approved by the shareholders. In February this year, the Securities and Exchange Board of India (SEBI) made it voluntary for India Inc to have a separate chairperson and managing director or CEO. In its statement.
We are thankful to our shareholders for their unwavering support and faith in our leadership. We remain committed to building a large, profitable company and creating long-term shareholder value, while driving financial inclusion in the country," the company statement quoted the spokesperson.
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