E-commerce marketplace Snapdeal’s chief financial officer (CFO) and general counsel, Anup Vikal has put down his papers, reports ET. It’s not clear if his resignation comes into effect immediately or if he will stay back to oversee the transition. We’ve written to Snapdeal, and will update once we hear back.
Vikal had joined Snapdeal in October 2015 from Aircel, where he was also serving as the CFO and had been with the telecom operator for close to five years. Previously, he had worked in several roles at Bharti Airtel for nearly seven years.
It’s worth noting that Vikal had been handed the additional charge as general counsel in May this year, after Snapdeal’s group general counsel Ashish Chandra quit. At the time, Snapdeal was believed to be in the midst of merger talks with rival Flipkart. But in July, Snapdeal’s board reportedly rejected an offer worth $700-750 million from Flipkart. However, Vani Kola, managing director of VC firm Kalaari Capital, had tweeted that the reports about Snapdeal rejecting Flipkart’s buyout offer are false.
This year has been a rather rough one for the company, with internal management shuffles and multiple top-level exits: In February, two top executives including Abhishek Kumar, the company’s head of corporate development, and senior vice president Sandeep Komaravelly put down their papers. While in January, Snapdeal had appointed Housing’s CEO Jason Kothari as its Chief Strategy and Investment Officer, following the exit of Vijay Ghadge, COO of Vulcan Express.