Neeraj Arora Resigns from Paytm Board Amid Personal Commitments

Former Chief Business Officer of WhatsApp, Neeraj Arora, has resigned from One97 Communications (owner of Paytm), citing personal commitments. Arora, who previously helped negotiate the WhatsApp-Facebook merger, had rejoined Paytm's board before its IPO. Rajeev Krishnamuralilal Agarwal of SEBI has been appointed as an independent director for five years.

In a significant move, Neeraj Arora, celebrated for his pivotal role in negotiating the WhatsApp merger with Facebook, has resigned from the board of One97 Communications, the parent company of Paytm. Citing personal commitments and pre-occupations, Arora's departure was confirmed through a regulatory filing on June 17, 2024.

Having previously left the Paytm board in 2018, Arora returned ahead of the company's IPO, marking his influence within the fintech giant. Despite his exit, Paytm has swiftly appointed Rajeev Krishnamuralilal Agarwal, a former whole-time director of SEBI, as an independent director for a tenure of five years.

Agarwal comes with a wealth of experience, overseeing various policy decisions related to equity, market bonds, currency, and corporate governance during his tenure at SEBI. Notably, he played a critical role in the revival package of the Mutual Fund Industry in 2012.

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