Walmart-backed fintech major, PhonePe, has inducted new members to its board of directors. The company has roped in, former revenue secretary, Tarun Bajaj on its board and appointed him as the chairman of its risk committee.

The Bengaluru-based company has also onboarded Walmart executives – John D Rainey, Executive Vice-President and Chief Financial Officer, and Donna Morris, Executive Vice-President and Chief People Officer – as non-executive directors.

“We would like to confirm that, Mr. Tarun Bajaj will be an Independent Director on the PhonePe Board and Chairman of the Risk Committee,” said a statement.

“We would also like to confirm that Mr. John D Rainey (Executive Vice-President and Chief Financial Officer, Walmart Inc) and Ms. Donna Morris, (Executive Vice-President, Chief People Officer, Walmart Inc) have joined the PhonePe Board as non-executive Directors,” the statement added.

With this, PhonePe has beefed up its board strength to eight members.

New board members
former revenue secretary Tarun Bajaj, John D Rainey, Executive Vice-President and Chief Financial Officer, and Donna Morris, Executive Vice-President and Chief People Officer
Other members

Other members on the board are – PhonePe founders, Sameer Nigam and Rahul Chari; Flipkart Co-Founder Binny Bansal; Walmart’s Executive Vice-President for International Strategy and Development, Leigh Douglas Hopkins, and advisor Rohit Bhagat.

PhonePe’s move to strengthen its board also comes as it recently altered its top deck to make way for a group structure, and appointed chief executive officers (CEOs) of various business lines.

The new vertical CEOs included Hemant Gala for lending business, Vishal Gupta - insurance business, Vivek Lohcheb - e-commerce app Pincode, and Ujjwal Jain - Share.Market, PhonePe’s latest product offering in the wealth management space.

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