Hospitality chain OYO has elevated Rakesh Kumar to the position of Deputy Chief Financial Officer (Deputy CFO) of the company.
In the role, Kumar will be responsible for overseeing critical operational finance functions, including treasury, controllership, shared services, business finance, taxation, financial planning and analysis (FP&A) and execution of results, compliance, and timely audits across the organisation, OYO said in a statement.
He joined the hospitality unicorn over five years ago as the Head of Financial reporting. During the challenging period of the Covid-19 pandemic, Kumar played a pivotal role in ensuring timely audits and maintaining the company’s financial health, said OYO. Furthermore, as per the start-up, his leadership led to the successful execution of over 10 equity and debt raises of the company.
Besides his current role, Kumar also took on other business partnering roles and led the transition of acquisitions within OYO, including the two European organisations – Direct Booker and Bornholmske Feriehuse, the company said.
Kumar will continue to report to OYO CFO Abhishek Gupta.
“From spearheading our financial reporting efforts to leading complex acquisitions and driving our finance function’s strategic transformation, his dedication and expertise have played an instrumental role in the growth of the company,” said Gupta.