In a major move, Upen Rai, Director, Sales and Sandeep Amar, Head of Marketing, at Indiatimes* have both put in their papers. Indiatimes CEO, Satyan Gajwani, informed about the development in an internal e-mail to his employees.

He also mentioned other changes in product teams in the organization: Avinash Mudaliar will now look after, while Rajat Dev will be responsible for the horizontal design function, and Harshavardhan T will be responsible for running, in addition to working on Indiatimes’ IPL startegy. Both Harshavardhan and Dev will report to Gautam Sinha, COO of Indiatimes. This follows former CEO, Rishi Khiani’s move from the company, following which Satyan Gajwani took on the role of CEO of the company, and Gautam Sinha was appointed Chief Operating Officer (COO).

In a recent interview with Mint, Gajwani had hinted about a possible restructuring of the company, making it function more like a start-up, with each product division being taken care of by a business head, who’d be responsible for the product. So it looks like the changes that we’re seeing are in line with that new strategy.

Upen Rai joined Indiatimes in 2001, and also served as Chief Operating Officer at Zoom, Times Group’s lifestyle television channel from 2004 to 2006. His other stints include Buena Vista TV – Walt Disney and Zee TV.

Sandeep Amar had joined Times Group’s internet division in 2007, heading marketing at Times Business Solutions and leading and In 2009, he was made the Head of Marketing and Audience at Indiatimes. He’s also had a brief stint with Indiatimes in 2003, and with The Times Group’s direct marketing team in 1997. He’s also worked with Zee Telefilms, Citigroup, and Hindustan Times.

Editors Note: We’d earlier published the memo sent out to Indiatimes execs. That has been removed, as requested by the source of our info.

* Disclosure: Indiatimes is an advertiser with MediaNama