Renu Satti Resigns as Paytm Payments Bank CEO, To Head New Retail Initiative
Renu Satti who had tossed multiple job roles at Paytm steps down from her CEO position at Paytm Payments Bank to now work as Chief Operating Officer of ‘New Retail’ which helps consumers discover groceries, pharmacies, and shops for instant deliveries
Renu had taken over as the CEO of the Paytm Bank in May 2017 and recently resigned to take over the operations at the new initiative by Paytm which involves working with local restaurants, grocery stores and pharmacies for enabling them for local ordering and delivery.
After her step down, the position of the head of the bank lies vacant and it is the second time when the office at the newly-licensed payments bank has been vacant after its previous CEO, Shinjini Kumar left before the formal launch of Paytm Payment Bank.
Renu Satti has juggled multiple roles at Paytm, from managing human resources to building businesses ground up including marketplace, movie ticketing and most recently Paytm Payments Bank.
She will now lead a new retail initiative as COO where consumers will be able to discover nearby pharmacies, groceries, and other shops to place an order and get instant deliveries.
Paytm also aims to build a P2P logistics with a countrywide network for intra-city deliveries. This new launch is expected to become one-thirds of Paytm's orders and GMV by 2020, says Vijay Shekhar Sharma, Founder of Paytm.