Naspers-owned financial services provider PayU Payments has appointed five new board members – three independent and two non-executive non-independent directors - across multiple different professional domains.
The new members include Renu Sud Karnad, Gopika Pant, Jairaj Purandare, Laurent Le Moal and Jan Bune, a company statement said.
The directors will join PayU's board along side CEO Anirban Mukherjee and CFO Arvind Agarwal.
Firstly, Karnad, an HDFC veteran, has been appointed as chairperson and independent director at PayU’s board. She is currently the president of the International Union of Housing Finance (IUHF) and is also chairperson of pharma company GSK Pharma.
Gopika Pant has joined PayU as an independent director and brings with her more than 38 years of legal expertise. She is currently the managing partner at the law firm Indian Law Partners.
Meanwhile, Jairaj Purandare, who has also joined as an independent director, is currently the founder chairman of JMP Advisors Pvt. Ltd, a leading advisory, tax and regulatory firm in India. He has held senior leadership positions with PwC India, EY India and Andersen India in the past.
Also, Laurent Le Moal, joining as a non-executive and non-independent director, has served as the global chief executive officer of the PayU Group. Laurent has been a member of the Global Future Council on the Future of Financial and Monetary Systems at the World Economic Forum since October 2019.
Finally, Jan Bune joins as a non-executive and non-independent director. He retired as a senior audit partner of Deloitte Netherlands in May 2013. Following retirement, he served as a member of the board of commissioners at the Dutch Media Authority from September 2013 until February 2021.
The payments processing company was recently in the news when in November 2023, it shut its prepaid payment instrument LazyCard in an attempt to narrow its losses in the payments and fintech segment during the six-month period ended September 2023.
These appointments come as a first this year. PayU had, last year, appointed former IndusInd Bank executive Manish Deo as head of its risk operations and anti-money laundering.
