Cellulant, a pan african fintech company that powers payments for businesses, banks and payment providers, has announced that CEO Akshay Grover will depart the company effective January 2024.
Grover, who initially joined Cellulant as Chief Financial Officer in 2021, was appointed CEO in the same year, a position he has held for nearly three years.
Under his leadership, Cellulant has strengthened its position both on the African continent and internationally. His efforts have been pivotal in enhancing the Cellulant brand and driving the company’s strategic objectives.
According to a statement by Cellulant, Grover has decided to leave to focus on personal matters.
“The current CFO, Peter O’Toole, will oversee the organisation’s operations as Acting CEO. The company is in the process of strengthening its leadership team further with a number of seasoned senior leaders with international and pan-African experience in the payment space. The company will be making further announcements on this in the coming months,” part of the statement reads.
Grover’s departure comes at a time when Cellulant is the process of implementing a product led structure it announced last year. While announcing the new strategy last year, Grover said the company would cut its workforce by 20 per cent. The changes are already being felt in the organization with Grover becoming the latest high ranking official to leave the payments firm.