NewDelhi: Vijay Shekhar Sharma has been reappointed as the Managing Director of Paytm, the company that introduced the first digital payment system in India. The company informed that the new appointment will be for the next five years. 99.67 percent of the shareholders supported the appointment of Sharma.
The company officials said in a statement that Vijay Sharma was chosen as the MD of the company because of his ability to maintain the trust of the shareholders and investors. In most of the Nifty companies in India, the Managing Directors are selected on the basis of a non-rotation system. In the voting conducted through this system, 99.67 percent voted in favour of him.
Unlike the policy applicable to all other employees of the company, the remuneration is fixed without annual increment for the next three years. Employees will be motivated for new plans only as the market capital becomes stable and effective interventions will be made to open up great opportunities in the digital sector by making major changes in the company’s forward momentum, informed Vijay Shekhar Sharma.
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