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Snapdeal CFO Akash Moondhra puts in his papers

Snapdeal Chief
Financial Officer Aakash Moondhra has resigned from the New Delhi-based online
marketplace, making this the second resignation of a key senior executive from
the company’s ranks in the last two months, reports the Economic Times.

Snapdeal Chief
Financial Officer Aakash Moondhra has resigned from the New Delhi-based online
marketplace, making this the second resignation of a key senior executive from
the company’s ranks in the last two months, reports the Economic Times.

According to the
report, Moondhra, who has been with Snapdeal since 2012, played a key part,
along with founders Kunal Bahl and Rohit Bansal, in shepherding the company, as
it pivoted from a daily deals platform to a major e-commerce player in the
country.

The CFO also
played a critical role in the last fiscal, which saw Snapdeal raise about $1
billion in funding, across rounds, from a clutch of marquee investors, led by
Japanese telecom, media and internet investor giant SoftBank, Singapore’s
Temasek and PremjiInvest, the private investment arm of Wipro Chairman Azim
Premji.

The e-commerce player
released a statement that Moondhra has resigned to “to pursue his other
interests and passions.” He will, however, remain with the company in an
advisory role, according to the Economic Times report.

Moondhra has
over a decade and a half experience of executing key finance and corporate
governance roles, across sectors, such as banking, private equity and corporate
finance, has worked with Bharti Retail, V-Mart Retail, Baring Private Equity
Partners and Nokia, prior to his Snapdeal stint.

“My journey
at Snapdeal has been very exciting and fruitful. I wish Snapdeal all the
best,” Moondhra was quoted as stating in the brief statement issued by the
company.

Two month back,
we reported that Snapdeal Chief Technology Officer Amitabh Misra had quit the
e-commerce firm, and was likely to start his own entrepreneurial venture. The
news came just a day after Snapdeal roped in former Yahoo India R&D
Division and Amazon India executive Jeyandran Venugopal, who would initially
serve an advisory role with Snapdeal’s technology leadership team. Venugopal is reportedly also expected to work very
closely with Rohit Bansal, the company’s co-founder and chief operating
officer. 

The
company has been in the process of overhauling its leadership team, with the
company actively scouting for top-notch talent in India, as well as outside the
country, especially in the Silicon Valley. According to the report, the company plans of filling between 10-15 top managerial
positions spread across critical functions, such as technology, operations,
marketing and supply chain, by the end of financial year 2014-15. 

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