Srinivas Murthy, who served as the vice president of marketing at Snapdeal, has quit the e-commerce company to set up his own venture.
Murthy would be announcing his venture in the next few months. He had joined Snapdeal in April last year.
“Srini has decided to begin an exciting new journey as an entrepreneur, and while he will surely be missed, I am delighted to see that he is carrying forward the Snapdeal spirit of entrepreneurship,” said Kunal Bahl, co-founder and CEO at Snapdeal, in a statement. There is no clarity yet on who would fill the position.
Last week, Snapdeal's head of strategy, Ranjan Kant, left the company to join fashion e-tailer Jabong as its chief marketplace officer.
In April last year, Aakash Moondhra, Snapdeal's chief financial officer (CFO), also quit. Prior to that in February, Snapdeal CTO Amitabh Misra had had put in his papers. Around the same time Jeyandran Venugopal was roped in from Yahoo as technology advisor.
Other high level appointments include Procter & Gamble executive Amit Choudhary who became senior vice president of corporate finance and former Unilever executive Vivek Patankar who was hired as senior vice president of finance.
In June, the company had roped in Anand Chandrasekaran from Bharti Airtel, who was appointed as chief product officer. It also brought in Jayant Sood from Bharti Airtel, who came in as chief customer experience officer. In October, it hired Ashish Jain as senior vice president (SVP), investor relations and mergers and acquisitions (M&A) integrations.
Snapdeal has emerged as one of the top three e-com marketplaces in the country along with Flipkart and Amazon. It is also the second most funded tech venture in India behind Flipkart.
Rival Flipkart has also been witnessing top level attrition. At least 16 senior executives have exited Flipkart and its lifestyle e-tailing unit Myntra over the last six months, according to publicly available data. While seven of them moved on to take up senior positions in smaller ventures, three have donned the entrepreneur’s hat.