Arvind Agarwal Resigns Nykaa, Joins PayU India As CFO
Arvind Agarwal will be replacing the current chief financial officer of PayU India, Maneesh Goel, and will assume his position in the coming week. The announcement came a few weeks after the company issue bonus shares, as per the media report
PayU appointed Arvind Agarwal as the chief financial officer of PayU India Payments, as reported by a media house. He, recently, gave his resignation as CFO of Nykaa. PayU is the fintech and payments arm of Dutch investment giant Prosus.
According to the media report the development has been confirmed by PayU spokesperson. He said that PayU excited to welcome Arvind to our leadership team as the company is moving towards a new growth journey.
Replacing the current CFO at PayU India, Maneesh Goel, who is all ready to leave the organisation, Agarwal will assume his position in the coming week.
Nykaa being an omnichannel beauty retail platform which is run by FSN E-Commerce Ventures, said during stock exchange filing on 22 November that Agarwal would be leaving the company effective close of business hours on 25 November and he will pursue other opportunities in the digital economy and start-up space.
The announcement of Agarwal’s departure from Nykaa came a few weeks after the company issue bonus shares, as per the media report.
As per another leading online media company, this development is under the regulatory spotlight of the Securities and Exchange Board of India (SEBI),
The founder of Nykaa and billionaire Falguni Nayar appreciated Agarwal for the crucial role he played in Nykaa’s emergence as a listed and profitable start-up.
Even though we regret losing him, we are conscious of his personal dreams and wish him all the luck for future, she added.
Prosus cater to a largest payments market in India. The overall total payment value (TPV) of the company grew 59 per cent to $28 billion, whereas its revenue increased 48 per cent reaching 183 million dollar.