Two senior Grab executives from the company’s fintech vertical have quit, Reuters reported, citing sources.
Chris Yeo and Jeffrey Goh, who left the firm, were part of GrabFin, which focuses on services such as insurance, digital payment, lending, and wealth management, among others, the report added.
The departure of the two top executives is believed to be part of the Southeast Asian firm’s restructuring efforts to pare down on losses.
“Many business groups within GrabFin have been put on notice with significant performance metrics,” one source told Reuters. “There’s an intense focus on getting to profitability.”
Grab earlier this month reported a 6% year-over-year growth in revenue in the first three months of 2022. It also logged US$435 million in net losses for the quarter.
Last month, Ankur Mehrotra, managing director of Grab Financial Group, ended his six-year stint with the firm to join BukuWarung, an Indonesia-based bookkeeping app. Earlier, Wui Ngiap Foo, another top Grab executive, left the firm to lead Ethlas, a blockchain gaming startup.
See also: Org Chart: How Grab Financial Group fits into the picture
Editing by Miguel Cordon
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