Swati Rustagi CHRO of Paytm steps down

According to a report, Swati Rustagi, who served as the Chief Human Resources Officer (CHRO) at One97 Communications Paytm Limited, has resigned from her position and is currently in her notice period. The report also suggests that Rustagi is likely to join Adobe.

Rustagi, who assumed the role at Paytm in 2023, commenced her career at Hindustan Unilever before gaining experience at DSP Merrill Lynch, Johnson & Johnson Medical, Patni Computer Systems, Max Healthcare, and Amazon.

During her tenure as Director of Human Resources at Johnson & Johnson Medical since 2008, Rustagi oversaw HR operations for the surgical care division, constituting 70 percent of the company’s total business in India. She also supervised Recruitment, Learning and Development, Talent Management, and Employee Engagement initiatives. Additionally, she led Compensation and Benefits work for J&J India in 2009–2010.

In February, Vijay Shekhar Sharma, founder of One97 Communications, the parent company of Paytm, resigned as Non-Executive Chairman and board member of Paytm Bank as part of a board reconstitution.

Srinivasan Sridhar, former chairman of the Central Bank of India, retired IAS officer Debendranath Sarangi, former Executive Director of the Bank of Baroda Ashok Kumar Garg, and retired IAS officer Rajni Sekhri Sibal have joined Paytm’s Board as Independent Directors. The Board will also include former Executive Director of Punjab & Sind Bank Arvind Kumar Jain and Surinder Chawla, MD & CEO at Paytm Payments Bank.