Sumit Mathur, who served as the Chief Marketing Officer (CMO) at Paytm’s parent company, One 97 Communications, for over a year, has now taken on the role of Country Head for India and South Asia at Glanbia Performance Nutrition, a prominent sports nutrition company. Mathur’s announcement of this career move was made on LinkedIn, where he expressed enthusiasm for the rapidly growing sports nutrition sector and the company’s focus on promoting well-being.

Glanbia Performance Nutrition, the parent company of popular supplement brand Optimum Nutrition, boasts a robust portfolio that includes subsidiaries such as General Mills, The Kraft Heinz Company, and Campbell Soup Company. Founded in 1985 in the United States, Glanbia has established itself as a leader in the sports nutrition industry.

During his tenure at Paytm Group, Mathur played a pivotal role in enhancing the company’s brand equity and driving user growth across both B2B and B2C segments. Prior to his stint at One 97 Communications, Mathur held key positions at Kellogg Company for over five years, where he contributed significantly to the company’s marketing strategies.

Before his tenure at Kellogg, Mathur had a distinguished career spanning nearly fifteen years at Hindustan Unilever, where he held various roles ranging from area sales manager to general manager, gaining extensive experience in diverse aspects of marketing and sales.

Mathur’s move to Glanbia Performance Nutrition comes amidst a series of notable departures from One 97 Communications. Praveen Sharma, the Senior Vice President of Business, recently resigned after four years with the company, citing a desire to explore new opportunities. Additionally, independent directors Manju Agarwal and Shinjini Kumar parted ways with the company’s board in February.

Apart from senior management changes, One 97 Communications is also undergoing organizational restructuring, potentially leading to further staff layoffs. In December 2023, the company laid off hundreds of employees, citing the increasing implementation of AI-driven automation. The trend continues, with reports suggesting that more job cuts may be imminent as part of the company’s annual performance review process.

The challenges for One 97 Communications extend beyond internal restructuring, as regulatory actions by the Reserve Bank of India (RBI) have impacted its subsidiary, Paytm Payments Bank (PPBL). The RBI’s directives, issued on January 31, prohibited PPBL from accepting deposits, conducting credit transactions, or offering banking services such as UPI facilities and fund transfers after March 15.

In response to these regulatory challenges, PPBL obtained a third-party application provider (TPAP) license from the National Payments Corporation of India (NPCI) to sustain its digital payments operations, indicating the company’s commitment to navigating regulatory hurdles while maintaining its market presence.