Alibaba global MD Gowrappan joins Paytm board

BENGALURU: Alibaba Group’s global managing director K Guru Gowrappan has joined Paytm as additional director, becoming the third top-level executive to join the ecommerce and payments company in the last one week. "I am honoured to join the board of a company I have observed and admired over the last couple of years," said Gowrappan. "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." Paytm is backed by Alibaba and Ant Financial.

Gowrappan is the fourth executive from Alibaba to join Paytm’s board. Besides Gowrappan, the other two executives who joined Paytm in the last one week are Google’s Amit Singhal and former vice-chairman of Goldman Sachs, Mark Schwartz. In January, the board of One97 Communications, the parent company of Paytm, had inducted Kai Nin Kenny Man, head of international investment at Ant Financial, in the company board. ET had earlier reported that Paytm will spin off its marketplace later this year, paving the way for Alibaba’s direct entry into India. The inductions are seen as a precursor to this.