Suhail Sameer to resign as CEO of BharatPe, says report

There are rumours that BharatPe is planning a leadership transition. Suhail Sameer, the business’s chief executive, is leaving the company, as per a report in Mint. Sameer has been in charge since co-founder Ashneer Grover was ousted on suspicion of financial mismanagement. BharatPe has denied the news and refused to make any remark on it. A spokesperson from the firm said, “We would wish to avoid making any further comments about any market rumours. But Suhail is still the CEO of BharatPe.” Sameer was formerly the CEO of the FMCG division at the RP-Sanjiv Goenka Group. He started working with BharatPe as president in August 2020. Afterwards, as Grover’s focus moved to obtaining a banking license after purchasing PMC Bank and raising money, all of the company’s top executives were asked to report to Sameer. Furthermore, he began overseeing daily operations. Then finally in August 2021, Sameer was formally appointed CEO of BharatPe. In recent weeks, in response to BharatPe’s filing of civil and criminal lawsuits alleging fraud, Grover targeted Sameer personally by sending out a barrage of insulting tweets about his former colleagues. Sameer’s exit from the company will be the most recent top-level departure at the Tiger Global investee firm. Last month, Vijay Aggarwal, the chief technology officer, Nehul Malhotra, the head of PostPe, and Rajat Jain, the chief product officer for lending and consumer products, all left the company. The business’s chief revenue officer, Nishit Sharma, quit in June. In the same month, Satyam Nathani— co-founder of BharatPe—left as well to pursue his individual business goals. Bhavik Koladiya, who managed the technology and product divisions at the fintech company, resigned in the final week of June, making his departure one of the most significant moves to date. BharatPe was formed by Koladiya and Shashvat Nakrani in July 2017, but the company wasn’t officially incorporated until March 2018. Grover joined hands with the organisation in June 2018. The departures from BharatPe are happening as the business tries to move past the negative publicity surrounding Grover’s alleged financial fraud and reinvent itself as a professionally-run business. In addition to striving toward profitability, the company is also getting ready for an initial public offering (IPO) in 18 to 24 months. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.