Paytm CEO Vijay Shekhar Sharma to face crucial test of investor confidence

The billionaire founder of Paytm faces a crucial test of investor confidence Friday, when shareholders will decide whether they want him at the helm of a fintech pioneer that made one of the worst debuts in Indian history.

Vijay Shekhar Sharma’s role as the chief executive officer is among the items to be voted on at the company’s annual general meeting held virtually this afternoon. A proxy advisory firm last week recommended that shareholders replace the founder as CEO, citing concerns about his ability to reverse losses at the payments provider.

Paytm, the poster boy for India’s tech startups, has lost more than 60% of its value since its high-profile initial public offering in November as it has struggled to convince investors of its earnings potential.