Rakesh Kumar Elevated To CFO Role At OYO, Ahead Of Its IPO

OYO, the hospitality chain operated by Oravel Stays Pvt Ltd, has promoted Rakesh Kumar from Deputy Chief Financial Officer to Chief Financial Officer (CFO), with the aim of driving the company’s financial and operational growth.

In his current role, Rakesh Kumar manages financial functions such as business finance across all markets, treasury, controllership, shared services, financial and investor reporting, taxation, and financial planning and analysis. The announcement follows OYO’s buyback of a portion of its Term Loan B (TLB) amounting to Rs 1,620 crore.

Before joining OYO, he worked with EY, where he contributed to services like statutory audits, tax audits, IFRS compliance, and IPO-related work. His expertise spans across startups, travel, hospitality, and media. His contributions have extended beyond finance, encompassing various business partnering roles and leading the transition of acquisitions within OYO, including the integration of two European organisations, Direct Booker and Bornholmske Feriehuse. In addition, OYO revealed that Ankit Tandon, the global Chief Business Officer and CEO of SEAME (South East Asia and the Middle East), will assume additional responsibilities. Tandon will now oversee investor relations, mergers and acquisitions, as well as financial planning and analysis functions.