BharatPe CEO Suhail Sameer to step down, Nalin Negi to take over in the interim

• BharatPe’s CEO Suhail Sameer will step down from the top job of the fintech company.
  
• Sameer took over as the CEO of BharatPe in August 2021, a year after he was appointed as the president of the company.
  
• BharatPe has reportedly hired a firm to scout for a CEO to take over while its CFO steps in to steer the ship in the interim.
  

BharatPe’s CEO Suhail Sameer will step down from the top job and transition into a strategic advisor from January 7, 2023, the company said in a statement on Tuesday.

Sameer took over as the CEO of BharatPe in August 2021, a year after being appointed as the company’s president in August 2020. The company’s chief financial officer Nalin Negi will be the interim CEO while BharatPe searches for Sameer’s replacement.




“We have recognized the need to dedicate time and resources to finding the leader who will continue to catapult BharatPe to new heights, and we are grateful for the commitment from Suhail and Nalin. We look forward to supporting Nalin Negi in his role as the interim-CEO, as we move ahead in our mission of empowering millions of MSMEs with a range of world-class financial products,” said Rajnish Kumar, chairman of BharatPe board, in a statement to PTI.

BharatPe has reportedly hired a firm to scout for a CEO to take over while Negi steers the ship in the interim.

Sameer had a falling out with the company’s co-founder Ashneer Grover, who was kicked out of the company last year after a very public spat over allegations of financial misappropriation. Interestingly, Grover has also made some comments on social media against Sameer recently.

Earlier last year, BharatPe was rocked by the departures of multiple top-level executives, including the then chief technology officer Vijay Aggarwal, and chief product officer, Rajat Jain leaving the company. Further, PostPe’s head, Nehul Malhotra, also left the company. PostPe is BharatPe’s buy now pay later (BNPL) offering which was launched in October 2021.

(This is a developing story)