Indian cosmetics-to-fashion retailer Nykaa witnessed a series of significant executive resignations, totaling six since April, news agency Reuters reported on Wednesday (August 2). This surge of departures comes amidst the escalating competition in the rapidly expanding sector.
Among the key exits is the departure of Chief Marketing Officer, Shalini Raghavan, prompting Nykaa’s founder and CEO, Falguni Nayar, to assume direct oversight of this crucial function.
Other notable departures include Kingshuk Basu, who served as a senior vice president for retail; Sumant Kasliwal, a senior VP in the fashion unit; Aditya Sandhu, from the business-to-business sales division; VP Sachin Kataria, from the e-commerce business; and Shantanu Prakash, who held the position of VP for marketing and communications.
“Leadership roles are being augmented with an eye on strategic realignment, cost rationalization and growing complexity of the business,” Nykaa said in a statement to Reuters.