BharatPe CEO Suhail Sameer, who had fallen out with Ashneer Grover, quits; Nalin Negi to be the interim CEO.
New Delhi: The Chief Executive Officer (CEO) of BharatPe, Suhail Sameer, resigned from his post on Tuesday. According to reports, Mr. Sammer had an argument with the co-founder Ashneer Grover. BharatPe in a statement said, “Sameer will transition from Chief Executive Officer to strategic advisor effective January 7, 2024”.
The statement of the company wouldn’t clarify the proper reason behind the resignation. BharatPe’s CFO Nalin Negi will take over as the interim CEO of the company.
Fintech in their statement also said, “This will ensure a smooth transition for current CFO, Nalin Negi who has been appointed interim CEO to partner with senior executives to bolster execution in all phases of the company’s business”.
The Chairman of BharatPe, Rajnish Kumar, on this matter said, “We have recognised the need to dedicate time and resources to finding the leader who will continue to catapult BharatPe to new heights, and we are grateful for the commitment from Suhail and Nalin. We look forward to supporting Nalin Negi in his role as the interim-CEO, as we move ahead in our mission of empowering millions of MSMEs with a range of world-class financial products”.
BharatPe records several resignations in recent months
BharatPe was founded in 2018. The establishment of fintech has recorded a lot of changes in recent time; Vijay Aggarwal, the chief technology officer; Nehul Malhotra, the head of PostPe, and Rajat Jain, the chief product officer for loans and consumer goods, all resigned from their positions last month.
Sameer was hired by Ashneer Grover, who was ousted from the company along with his wife Madhuri Jain in March last year related to the allegation of fraud and irregularities in finance. Grover is facing civil and criminal suits alleging fraud, having in recent weeks made personal attacks on Sameer.
The company hit out at Grover for “spinning lies and hurling baseless allegations and threats”.
CEO Sammer on leaving Note
Sameer on leaving note, said BharatPe will continue to build. He added, “I remain committed to supporting BharatPe achieve its growth potential in the role as Strategic Advisor and look forward to the next phase of my own journey as a full-time investor.”
Sameer was previously CEO of the FMCG business at RP-Sanjiv Goenka Group, and joined BharatPe as a president in August 2020. He started managing the daily related affairs of the company during his tenure and was formally taken over as CEO in August 2021.
