Paytm’s MD and CEO Vijay Shekhar Sharma gets appointed in the positions again after receiving support from the share holders in the AGM held on 19th of August
- Vijay Shekhar Sharma’s fortune gets better in the AGM
- The resistance for CEO’s appointment from some of the third parties
- Paytm’s share price
- Paytm’s evolution in Indian Market
Vijay Shekhar Sharma’s fortune gets better in the AGM
The Annual General Meeting of Paytm, a tech enable unicorn, happened on 19th of August and major decisions regarding the management of the company were made. Among the decisions, the decision that stood out and got the maximum attraction from public was the reappointment of MD and CEO Vijay Shekhar Sharma.
The AGM brought a lot of good fortunes for Sharma, as 99.67% of share-holders who voted in the AGM were in support of him being reappointed in the said positions. There were other decisions also made in regards to the management in the meeting.
According to the reports, a total of seven resolutions were passed at the 22nd AGM of Paytm. The most talked about resolution was the retaining of Vijay Shekhar Sharma. The other news, that was successful to grab public’s attention was the remuneration of Sharma for the next three fiscal years. According to the inside reports, the remuneration for Sharma was supported by 95% of the voters. The other resolutions were, the reappointment of Madhur Deora as company’s CFO, and retaining Ravi Adsumalli as director.
The resistance for CEO’s appointment from some third parties
Before the AGM, it was reported that, there were some third parties, that were against the appointment of Sharma as MD and CEO. According to the reports, three proxy advisory firms, went on against the reappointment and remuneration fixed for Sharma. However, their opinion was disregarded as majority of the shareholders went on with Sharma.
Paytm’s evolution and Paytm’s share price
Paytm, which happens to be a tech unicorn, is trading currently at around 750 rupees. Though the prices were down by at least 15%, it is believed that the company will pick up in the near future. The company also made history with Rs. 18,300 crore IPO which happened to be the biggest public offering at the time. The Reserve Bank of India (RBI) forbade Paytm’s payments bank arm from accepting any new clients in March due to worries about how user data was being handled.
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