Nykaa Appoints New CFO, CTO And Other New Leaders To Drive Growth

Nykaa has appointed P Ganesh as its new chief financial officer (CFO) and Rajesh Uppalapati as chief technology officer (CTO) as it named leaders for technology, finance, business, and marketing.

These people will join a leadership team of 50 leaders to “spearhead" growth, said the online beauty company in a regulatory filing on Monday a month after five high-profile employee exits.

Ganesh has worked as CFO in TAFE Group, Pidilite Industries, and Godrej Group. Uppalapati, after a 20-year stint at Amazon, worked at Intuit, a financial software firm.

Abhishek Awasthi, Eswar Perla, Dhruv Mathur and Amit Kulshrestha have joined the existing technology leadership team, while Sujeet Jain has joined as legal and regulatory officer. T V Venkataraman will be responsible for Nykaa’s internal audit and risk management charter.

Vishal Gupta, Sudhakar Y Mhaskar and Shailendra Singh have been given various business and revenue-related roles. Sudhansh Kumar will lead performance marketing, Priya Bellubbi will be in charge of customer lifecycle management and Suchita Salwan will lead the content charter.

“We are excited to welcome each of these new leaders in key roles that drive the company's important businesses and functions. With a common entrepreneurial ethos and mindset, this leadership team is well poised for success as the Nykaa ecosystem expands in scope and scale," said Falguni Nayar, founder and chief executive officer of Nykaa.

The appointments were announced a month after the beauty and fashion platform saw five of its senior executives put in their papers. These included Chief Commercial Operations Officer Manoj Gandhi, Chief Business Officer of the fashion division, Gopal Asthana, and Chief Executive Officer of wholesale business Vikas Gupta.

Shuchi Pandya, vice president of Nykaa's fashion division business and Lalit Pruthi, who was vice president of finance at the fashion unit, resigned, too.

A company spokesperson said then that some of these mid-level exits were part of the standard annual appraisal and transition process wherein people exit due to performance or to pursue other opportunities.

Nykaa reported a 70.75 per cent drop in consolidated profit to Rs 8.48 crore for the third quarter ended December (Q3FY23), mainly on account of investments in retail stores. The firm had reported a net profit of Rs 29 crore in the same period a year ago.