Prosus-owned India Chief Executive Officer (CEO) Anirban Mukherjee will take over the role of global CEO of the business.
The elevation follows the exit of PayU global CEO Laurent Le Moal, who will step back from the operational management of the daily business, but will remain with Prosus and PayU in an advisory capacity, the company said in a statement.
In his new role, Mukherjee will join the Prosus leadership team and report directly to Ervin Tu, interim CEO of Prosus and Naspers. He will be responsible for the overall business operations of PayU, it added.
In August, Prosus sold PayU’s Global Payments Organisation (GPO) to Israel’s Rapyd for $610 million, shifting its focus to operations in India, Turkey, and Southeast Asia.
Mukherjee’s appointment falls under the company’s larger plans of doubling down on the Indian market. As per Prosus’s latest annual filings, India continues to be PayU’s largest market.
“As part of the transition to an Indian-focused strategy for PayU, now is the right time for Anirban to run the PayU business. Innovation and progressive regulation are driving rapid change within the digital payments industry in India, and we see many opportunities to support the next phase of growth for PayU,” said Ervin Tu.
Adding, Mukherjee said, “PayU is built in India for India and beyond, and today we run a successful payments and credit business riding on a locally rooted technology stack. Our ambition is to outpace the market with strong profitability. We’re deeply committed to driving digitisation and financial inclusion, especially for small merchants. Prosus has been vital in PayU’s growth, and we will collaborate closely with Ervin and the Prosus team as we enter the next phase of PayU’s journey in India and Southeast Asia.”
Last week, the company’s global CFO Aakash Moondhra announced his resignation from the payments firm following Moel’s exit. As per reports, Prashanth Ranganathan, CEO of PayU Credit, is also leaving the organisation.
Edited by Suman Singh
