Flipkart CFO Sanjay Baweja Resigns

By Reuters | Updated: 26 October 2016 09:44 IST

India's largest e-commerce firm Flipkart said on Tuesday its chief financial officer would leave the company at the end of this year.

The departure of Sanjay Baweja comes during the Indian festive season, a crucial time for sales, and as Flipkart engages in talks with US retailer Wal-Mart Stores Inc to raise up to $1 billion (roughly Rs. 6,680 crores) for a minority stake.

Baweja joined Flipkart in September 2014.

A Flipkart spokesman said December 31 would be Baweja's last day at the company and the search for a replacement had begun.

Flipkart, launched in 2007 by two former Amazon employees, sells a wide range of products from mobile phones to suitcases and cosmetics. Current investors include Tiger Global Management and Accel Partners.

The Economic Times newspaper reported earlier that Baweja had left Flipkart.

© Thomson Reuters 2016

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Further reading: Flipkart, Flipkart CFO, Sanjay Baweja, Internet, Apps

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