Nalin Negi, BharatPe's chief financial officer, has been named interim chief executive officer after Suhail Sameer stepped down from the top executive position.
Sameer, meanwhile, will take on the role of "strategic advisor" from Jan. 7, while the fintech hunts for a new chief executive, the company said in a statement.
Sameer has been at the helm of the company since Ashneer Grover, the firm's former CEO, left the company in March 2022. Grover resigned after BharatPe alleged that he and his family members had misappropriated company funds.
"I remain committed to supporting BharatPe to achieve its growth potential in the role of strategic advisor and look forward to the next phase of my own journey as a full-time investor," Sameer said in the company statement.
Negi, BharatPe's interim CEO, has previously worked as the CFO for SBI Card. "We remain fully committed to our employees and customers and look forward to our continued success as a fintech leader in India," Negi said in the statement.
The firm's board of directors has retained an executive search firm to assist with succession planning, the statement noted.
BharatPe has also sued Ashneer Grover and his relatives in the Delhi High Court.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
