Suhail Sameer To Step Down As BharatPe CEO

After Vijay Aggarwal, Rajat Jain, and Nehul Malhotra, now Suhail Sammer is reportedly stepping down. These three senior executives left the company last year to pursue their entrepreneurial interests. 

Suhail Sameer joined BharatPe in 2020 as President. When Grover’s focus shifted to the bank, all the top leaders were asked to report to Sameer. At that time, he also started managing day-to-day activities. In August 2021, Sameer was formally promoted to CEO of BharatPe. 

Sameer was CEO of the FMCG business at RP Sanjiv Goenka Group before joining BharatPe. He has been overseeing the fintech company after the co-founder Ashneer Grover was accused of using inappropriate language and threatening a Kotak Group employee for failing to secure an allotment and funding for the Nykaa IPO with his wife, Madhuri Jain Grover. Both husband and wife were then ousted from the company over allegations of misappropriation of funds. 

Sameer departure will be the latest on the Tiger Global investee firm list. Besides three senior executive members who left the company last year (discussed above) and Suhail Sameer, there were other members who have also stepped down for some reason. 

Nishit Sharma, the chief revenue officer of the fintech firm, left the company in June. Satyam Nathani, one of the founding members, also left to pursue his entrepreneurial ambitions in the same month. 

In addition to these, Bhavik Kaladiya also left the company in the last week of June. He was the firm’s technology and product division head who founded BharatPe in July 2017 with Shashvat Nakrani. 

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Sameer was personally attacked by Grover, who has responded to civil and criminal suits alleging fraud filed by BharatPe. After this, the board has been scouting for a CEO and was keen to replace Sameer. 

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