Paytm’s outgoing Chief Technology Officer (CTO) Manmeet Singh Dhody, has a new role which the payments company calls as ‘AI Fellow.’ The job is to drive projects related to artificial intelligence (AI) innovation in the business.

The replacement CTO will be Senior Vice President Deependra Singh Rathore, One 97 Communications Limited (OCL), which owns the Paytm brand, announced in its exchange filing on Friday, October 04, 2024.

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Rathore, who has more than two decades of experience in the technology sector, has worked with Paytm for more than eight years now.

He joined as a General Manager of technology for Paytm’s Payment Gateway Business in January 2016, became a Senior Vice President at Paytm Payments Bank for nearly four years from November 2020 to August 2024, and became a Senior Vice President of Paytm afterwards till now, according to his LinkedIn profile.

“At Paytm, he has built and enhanced payments technology to provide exhaustive payment solutions to merchants and customers such as the online payment gateway, QR payments, and card payments,” the company wrote in its filing.

Prior to joining Paytm, he worked as an engineering manager with Snapdeal for a little over a year, besides his other experiences.

“We are excited to see Deependra Singh Rathore step into the role of CTO, and build for financial services in the AI age,” a Paytm spokesperson said.

“We also welcome Manmeet as an AI Fellow, helping accelerate our vision of integrating AI-driven processes across our business operations,” the spokesperson added.

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This comes in the backdrop of the company witnessing a number of changes in its top brass. For example, former MD and CEO Surinder Chawla resigned this April, citing personal reasons, and was replaced by former IDBI Bank executive Arun Kumar Bansal.

Other executives who resigned include Chief Marketing Officer (CMO) Sumit Mathur who resigned in April as well. This was followed by both Bhavesh Gupta, President and Chief Operating Officer (COO) and Varun Sridhar, the CEO of Paytm Money stepping down in May, although Sridhar then became CEO of Paytm Services.

How did the company’s shares perform?

One 97 Communications Limited (OCL) shares closed at ₹695.20 on the Bombay Stock Exchange (BSE) after the week’s trading session ended on Friday, October 04, 2024. This was 4.42% or 32.15 points into the red.

The announcement of the role change came at 8:22 pm IST after market hours.

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