Global travel technology company, OYO announced the elevation of Rakesh Kumar to deputy chief financial officer (Deputy CFO) of OYO.  

In his enhanced role, Rakesh 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 organization. He will continue to report to OYO’s CFO, Abhishek Gupta. 

His journey at OYO includes a series of key achievements that have made a substantial impact on the company's financial success. Notably, during the challenging period of the COVID-19 pandemic, he played a pivotal role in ensuring timely audits and maintaining the financial health of the organisation. The company said in a statement that under Kumar it has successfully executed over 10 equity and debt raises, demonstrating his proficiency in financial strategy and execution, said the company.  

Before assuming his current role, Rakesh held the position of head of controls, overseeing Controllership. His transition to Deputy CFO signifies a significant expansion of his responsibilities, encompassing business finance and taxation.  

Over the years, Rakesh’s contributions have expanded beyond the finance function. He has taken on various business partnering roles and has led the transition of acquisitions within OYO including the two European organisations, Direct Booker and Bornholmske Feriehuse.  

Before joining the company, Rakesh worked with Ernst and Young (EY), where he contributed to a wide array of services, including statutory audits, tax audits, IFRS compliance, IPO advisory, and finance function setup.

Abhishek Gupta, CFO of OYO, expressed his confidence in Kumar, "Rakesh's journey at OYO has been nothing short of remarkable. 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."