India’s largest e-commerce marketplace Flipkart’s management rejig is continuing even as two more high-profile Silicon Valley hires quit the company last week.
ALSO READ: Flipkart rejigs top management, hires ex-Amazon exec
Lalit Sarna and Sunil Gopinath were among the top talent in the company. Sarna headed the Transactions & Payments Business, while Gopinath was Senior Director Product & User Experience Design.
The duo had joined the company just over a year ago.
READ: Kalyan Krishnamurthy rejoins Flipkart, to head Category Management
Their exits come just a few months after Flipkart’s Chief Product Officer, Punit Soni and the company’s Head of Commerce Platform, Mukesh Bansal quit the company in February and April 2016 respectively.
Besides these two, other executives who quit Flipkart this year include Chief Business Officer, Ankit Nagori and Manish Maheshwari who was Head of Seller Marketplace & Ecosystem. Bansal had joined Flipkart after it acquired his startup, Myntra.
The e-commerce major’s Legal Head, Rajinder Sharma, too quit the firm a couple of weeks ago.
The mass exodus has come at a time when Flipkart is grappling with a value markdown from various US-based mutual funds, Morgan Stanley featuring prominently amid them.
MUST READ: Sachin Bansal says markdowns don’t matter
Amazon’s announcement to invest $5 billion in India recently is also aimed at throwing Flipkart off its game. The investment is Amazon’s bid to take over from Flipkart and become India’s largest online marketplace before China’s e-commerce behemoth Alibaba enters the country.
Flipkart's Chief Administrative Officer Nitin Seth called the report false and baseless, confirming that there are no plans for any layoffs in the coming months
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