Filpkart in trouble as Chief Financial Officer Sanjay Baweja resigns

Business - Pavan Pandey - Nov 15,2016

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filpkart trouble chief financial officer sanjay baweja resigns

Sanjay Baweja’s exit from registered in Singapore the e-commerce marketplace Flipkart is yet another case of high-level resignation from Flipkart after legal head Rajinder Sharma resignation in the month of July. Mr. Sanjay Baweja was a CFO at Tata Communications before he joined Flipkart in a similar role.

The 56-year-old Sanjay Baweja has been a top employee in his previous organizations, including Bharti Airtel Ltd., Tata Communications Ltd., and Emaar MGF. According to Flipkart officials, CFO Sanjay Baweja will continue to be the CFO until 31 December 2016 and the management will commence with the process of finding a new CEO. The Indian government is scheduling to roll out the prime tax alteration, Goods and Services Tax (GST) from 1 April 2017 and the Flipkart CFO Sanjay Baweja would have been made a major help for the corporation for the transitioning into the fresh tax structure.

Flipkart is determined to increase new assets from stockholders to fuel the entire business, and aims to repel the aggressive rivalry from competitor Amazon. The exodus of Sanjay Baweja is also crucial as it is the time of Diwali, an important time for sale and business. The announcement of Baweja’s exit can have a negative impact on India’s largest e-business corporation in the fourth and last quarter of this year.

In recent months, Flipkart has faced the exit of many of their top-level employee, including the chief business officer Ankit Nagori and commerce and advertising business head Mukesh Bansal. In the month of April, chief product officer, Punit Soni and Flipkart's vice-president Manish Maheshwari tendered their resignations. These strings of exits have created an upheaval at India’s e-commerce poster boy.