Amid the exodus of senior executives, online retailer Snapdeal has initiated a management rejig with the elevation of its digital marketing head, Mayank Jain, as the head of products.
Citing unnamed people, Money Control reported that Jain will take charge of the products division, which was till recently headed by Rajiv Mangla, who quit as the company’s chief technology officer earlier this week.
The company will soon hire a technology head, the report added.
IIT-Delhi alumnus Jain was the products, analytics and digital marketing head at self-drive car rental startup, Zoomcar, before joining Sanpdeal. He also had stints in Mu Sigma, Advanta Corp and Capital One.
Snapdeal has witnessed a string of top-level exits soon after the merger talks with Flipkart fell through, besides rising attrition levels.
Mangla’s departure came barely two weeks after Anup Vikal, the startup’s chief financial officer and a general counsel to its parent, Jasper Infotech Pvt. Ltd, had put in his papers.
In August, the four-member founding team of Unicommerce Solutions, Snapdeal’s technology solutions division, comprising Ankit Pruthi, Karun Singla, Vibhu Garg and Manish Gupta, had quit the company.
August also saw the exist of Pradeep Desai, Snapdeal’s vice-president for products; Viraj Chatterjee, the vice-president for its engineering disvision; and head of IT Gaurav Gupta step down. Digvijay Ghosh and Rahul Jain, business heads of the FMCG and general merchandise divisions, respectively, had also resigned around the same time.
Besides, Snapdeal is engaged in a legal dispute with erstwhile logistics investee company GoJavas.
After calling off its proposed merger deal with Flipkart in July, the e-tailer had pivoted to an asset-light business model through various cost-cutting initiatives, including its decision to have a smaller team, to revive its fortunes.
In February, the e-tailer had laid off 500-600 employees across verticals, besides handing over pink slips to its staff at mobile wallet FreeCharge and logistics wing Vulcan Express.
Subsequently, it had sold its digital payments arm FreeCharge to private-sector lender Axis Bank for Rs 385 crore.
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