Online mobile wallet major Paytm announced that K Guru Gowrappan, global managing director of the Alibaba Group, will join its board as an additional director. This marks the third top-level appointment in the digital wallet firm during the last one week with the motive of cementing ties with its largest investor.
In his new role, he will be responsible for driving strong growth in Alibaba’s international markets. He is in charge of international product and business development strategy, which includes bringing all Alibaba products together into one final strategic plan and executing it in key markets.
Paytm has recently been expanding its board of directors with well-known names such as Google’s Amit Singhal and former vice-chairman of Goldman Sachs, Mark Schwartz. Gowrappan is the fourth executive from Alibaba to join Paytm’s board. According to analysts, these are telltale signs of the Vijay Shekhar Sharma-led company making itself a strong entity in the run-up to Alibaba’s entry into India.
Paytm in which Alibaba has invested close to one billion dollars is said to be the top contender and analysts believe the induction of Gowrappan might be a step in that direction. Alibaba already has a business-to-business e-commerce presence in India.
Excited for the new position, Gowrappan said, "I am honoured to join the board of a company I have observed and admired over the last couple of years. It’s both exciting and fulfilling to be trusted with the opportunity to mentor the incredible team at Paytm as the company moves into the next chapter of its growth."
“We are at an important juncture in the company’s evolution, and Guru’s strong expertise in global business and product development will guide us through executing key strategic initiatives for the company,” Sharma commented.