Flipkart's top level exodus continues; CFO Sanjay Baweja resigns

Chief Financial Officer of Flipkart, Sanjay Baweja has quit the company, just under two years of joining India’s largest e-commerce marketplace.
Sanjay Baweja’s departure comes during the Indian festive season, a crucial time for sales, and as Flipkart engages in talks with US retailer Walmart Stores Inc to raise up to US$1 billion for a minority stake.
Baweja joined Flipkart after stints at Tata Communications Ltd, Emaar MGF and Bharti Airtel Ltd. He was hired to set up badly needed processes and systems at a fast-growing start-up, cut losses and prepare Flipkart for an eventual initial public offering (IPO).
READ MORE: Walmart in preliminary talks to invest $1 billion in Flipkart
December 31 would be Baweja’s last day at the company and the search for a replacement had begun.
Flipkart has seen a string of exits in recent months.
Head of commerce and advertising business Mukesh Bansal and chief business officer Ankit Nagori resigned from the company in February this year. Nagori quit the firm to start a venture in the sports domain where Flipkart’s co-founders Sachin and Binny Bansal are the first investors.
Later in April, Flipkart’s chief product officer Punit Soni and vice-president and head of seller ecosystem Manish Maheshwari resigned from the company to join Web18. In July, Flipkart lost two more senior executives — payment product head Lalit Sarna and product lead for marketplace division Sunil Gopinath.
In August, Flipkart had changed its top management structure again, putting two key business units under the control of Kalyan Krishnamurthy, a senior executive from Tiger Global who was brought back in June this year. This was the third major re-organisation at Flipkart this year.
Krishnamurthy is now leading Flipkart’s turnaround as it fights to keep the numero uno status in India’s e-tail war.
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