Few months back, Nykaa’s CFO had resigned.
Now 5 more senior executives of the Company have resigned.
- Chief Commercial Operations Officer, Manoj Gandhi
- Chief Business Officer of fashion division, Gopal Asthana
- Chief Executive Officer of wholesale business, Vikas Gupta
- Vice President of Nykaa fashion division’s Owned Brands business, Shuchi Pandya
- Vice President of Finance at the fashion unit, Lalit Pruthi
Nykaa spokesperson told Reuters it sees “some of these mid-level exits as a part of the standard annual appraisal and transition process, wherein, people exit due to performance or to pursue other opportunities”.
“Voluntary and involuntary exits are expected in a fast-paced, growth-focused, consumer tech organisation with over 3,000 on-roll employees,” the company said in response to queries from Reuters on the executives’ departures.
The Company has no choice but to downplay these departures.
Spate of senior level resignations however would always be seen with suspicion; for any organisation and more so for a new age Company like Nykaa.