PayU Payments appoints five new members to board, Renu Karnad named chairperson

Renu Sud Karnad has been appointed Independent Director and Chairperson of the board of PayU Payments. Currently the President of the International Union of Housing Finance (IUHF), Karnad was the Managing Director of HDFC (Housing Development Finance Corporation) till June 30, 2023, and continued as a Non-Executive Director on the HDFC Bank board. She is currently the chairperson of the board of GlaxoSmithKline Pharmaceuticals.

Recognised as one of the top 10 women to watch in Asia by the Wall Street Journal as early as 2006, she has been consistently featured as one of the ‘Most Powerful Women in Indian Business’ at many forums, and publications of repute.

Gopika Pant has joined as an Independent Director and brings with her more than 38 years of legal expertise. Pant has been listed in the Forbes India Legal Power List 2020 and 2021 as one of the Top Managing Partners in India.

For consecutive eight years starting in 2016, Pant was honoured in the ‘A’ List of India’s top 100 lawyers by the India Business Law Journal.

Jairaj Purandare has also joined as an Independent Director. He is the Founder Chairman of JMP Advisors, recognised as an advisory, tax and regulatory firm in India.

He was the former Regional Managing Partner, Chairman-Tax and Country Leader-Markets and Industries of PricewaterhouseCoopers (PwC) India, Chairman of Ernst & Young (EY) India and Country Head of the Tax and Business Advisory Practice of Andersen India.

Laurent Le Moal, joining as Non-Executive & Non-Independent Director, has served as Global Chief Executive Officer of PayU group and held positions on the Executive Team of Prosus from January 2016 to September 2023.

Additionally, Laurent has been a member of the Global Future Council on the Future of Financial and Monetary Systems at the World Economic Forum since October 2019.

Jan Bune, joining as Non-Executive & Non-Independent Director, has worked in public accounting from 1974 until 2013, retiring as a senior audit partner of Deloitte Netherlands in May 2013.

Following retirement, he served as a member of the board of commissioners at the Dutch Media Authority from September 2013 until February 2021.

Announcing the appointment of the new board members, Anirban Mukherjee, CEO of PayU, said, “With the Indian economy undergoing rapid transformation, PayU is poised to capitalise on leveraging the online payments opportunity, expected to reach a $1 trillion internet economy by 2030.