BharatPe Temporary CEO: Nalin Negi Replaces Suhail Sameer

While Suhail Sameer will transition to the position of Chief Strategy Officer, Nalin Negi has been named as BharatPe Temporary CEO. Suhail Sameer, the CEO of BharatPe who has been running the business since co-founder Ashneer Grover was fired last year is about to resign the company announced in a statement.

In the midst of the significant reorganization of leadership roles, Sameer will step down to the role of Chief Strategy Officer. Fintech Startup BharatPe today stated that Suhail Sameer will become a strategic advisor beginning on January 7, 2023, replacing his current position as chief executive officer. This will ensure a smooth transition for Nalin Negi, the current CFO, who has been named interim CEO and will work with top executives to improve execution in all areas of the company’s operations, according to the statement.

BharatPe also disclosed that the business has employed a “executive search firm” to help with succession planning and to aid in the search for a new CEO.

The chairman of the BharatPe Board, Rajnish Kumar, expressed gratitude to Sameer for his “tremendous effort” and for assisting the business in navigating different difficulties. “We are appreciative of Suhail and Nalin’s devotion, as we have realised the importance of devoting time and resources to select the leader who would propel BharatPe to new heights. As we advance in our aim to provide a variety of top-notch financial solutions to millions of MSMEs, we look forward to supporting Nalin Negi in his capacity as temporary CEO”, Kumar added.

In August 2022, Negi began working for BharatPe. He spent the previous ten years or so as SBI Cards’ chief financial officer.

This event comes after a number of senior level departures from the organisation that happened within the past few months. Three senior executives recently left the company, including Vijay Aggarwal, the Chief Technology Officer, Nehul Malhotra, the CEO of PostPe, and Rajat Jain, the Chief Product Officer for lending and consumer goods.

Against Grover and his family members, among other allegations, the company filed a civil lawsuit at the Delhi High Court and a criminal complaint with the Economic Offenses Wing last month. In order to prevent him from vesteding his 1.4% shares in the company, the fintech company also filed an arbitration claim under the regulations of the Singapore International Arbitration Centre (SIAC).