Flipkart’s top level exodus continues as CFO Sanjay Baweja quits | business-news | Hindustan Times
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Flipkart’s top level exodus continues as CFO Sanjay Baweja quits

India’s largest e-commerce firm Flipkart said on Tuesday its chief financial officer would leave the company at the end of this year. The departure of Sanjay Baweja comes during the Indian festive season, a crucial time for sales, and as Flipkart engages in talks with U.S. retailer Wal-Mart Stores Inc to raise up to $1 billion for a minority stake.

business Updated: Oct 26, 2016 08:05 IST
Flipkart

The departure of Sanjay Baweja comes during the Indian festive season, a crucial time for sales, and as Flipkart engages in talks with US retailer Wal-Mart Stores Inc to raise up to $1 billion for a minority stake.(Reuters file)

India’s largest e-commerce firm Flipkart said on Tuesday that its chief financial officer (CFO) would leave the company at the end of this year.

The departure of Sanjay Baweja comes during the Indian festive season, a crucial time for sales, and as Flipkart engages in talks with US retailer Wal-Mart Stores Inc to raise up to $1 billion for a minority stake.

Baweja joined Flipkart in September 2014 from Tata Communications.

A Flipkart spokesman said December 31 would be Baweja’s last day at the company and the search for a replacement had begun.

Flipkart has seen a string of exits in recent months.

Head of commerce and advertising business Mukesh Bansal and chief business officer Ankit Nagori resigned from the company in February this year. Nagori quit the firm to start a venture in the sports domain where Flipkart’s co-founders Sachin and Binny Bansal are the first investors.

Later in April, Flipkart’s chief product officer Punit Soni and vice-president and head of seller ecosystem Manish Maheshwari resigned from the company to join Web18. In July, Flipkart lost two more senior executives -- payment product head Lalit Sarna and product lead for marketplace division Sunil Gopinath.