Flipkart co-founder and chief executive Binny Bansal’s struggle to retain top talent continues as Chief Financial Officer (CFO) Sanjay Baweja quit a little under two years after joining the company from Tata Communications.
Baweja’s exit comes at a time when Bansal’s push to revive growth after a year’s gap was beginning to work.
At the same time, Flipkart’s efforts to raise fresh funds from investors to fuel business and fend off aggressive competition from global rival Amazon faces a setback with this exit.
Confirming Baweja’s exit, a Flipkart spokesperson said the company was looking for a replacement.
Baweja will continue to be with the company till December-end.
Since the top management rejig in January this year, which saw Bansal take over the reins as CEO, exits in the top echelons of Flipkart have become common. Punit Soni, the star hire from Google, quit the company less than a year after he joined.