PayNet Appoints Praveen Rajan as New Group CEO, Replacing Previous Leader Farhan Ahmad
Payments Network Malaysia (PayNet) has announced a significant leadership change, with Praveen Rajan set to take over as CEO-Designate starting on 1 December 2025. Current Group CEO, Farhan Ahmad, will step down on 31 January 2026.
Farhan Ahmad has led PayNet since early 2022, overseeing a period of significant growth and transformation. During his tenure, PayNet's transaction volumes rose by an impressive 275%, from three billion to over eight billion a year. The DuitNow real-time payments infrastructure, under Farhan's leadership, was positioned among the most advanced globally.
Farhan Ahmad expressed pride in the achievements made during his time at PayNet and looked forward to seeing its continued success. The Board of Directors expressed gratitude towards him for his exceptional leadership.
Praveen Rajan, with over two decades of experience in mobile telecommunications and digital industries, brings a wealth of knowledge to his new role. His expertise in digital transformation and customer-centric growth will be valuable as he takes over at PayNet. Praveen has worked in areas including regulated, tech-driven transformations, consumer strategy, and innovation.
The leadership transition at PayNet will be carefully managed over the coming months to ensure a smooth handover. The PayNet leadership team will maintain focus on executing the company's strategic roadmap during this period.
Dato' Izzaddin Idris, Chairman of PayNet, made a statement regarding the leadership transition, but specific details were not provided.
Farhan Ahmad will pursue the next chapter of his personal journey after stepping down as CEO of PayNet. The exact nature of his future plans was not disclosed.
The appointment of Praveen Rajan as CEO-Designate of PayNet marks an exciting new chapter for the company. With his extensive experience and Farhan's impressive achievements, PayNet is poised for continued success in the digital payments industry.
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