The parent firm of the digital payment app Paytm, One 97 Communication (OCL), has reappointed Vijay Shekhar Sharma as managing director (MD) and chief executive officer (CEO). The majority of shareholders—roughly 99.67%—voted in favour of Sharma’s reappointment.
According to a statement from Paytm, Sharma will continue serving as the company’s MD and CEO for a further five years. The OCL board of directors authorised Sharma’s rehiring in May 2022. OCL’s 22nd annual general meeting (AGM), which was also its first as a publicly traded corporation, was conducted on Friday. After three domestic proxy firms protested Sharma’s reappointment as the company’s MD & CEO, the meeting gained attention.