Nykaa stock down by nearly 2% after it announces key appointments

FSN E-Commerce Ventures Ltd, the parent company of beauty and fashion e-commerce marketplace Nykaa, shares were down by nearly two per cent on Tuesday after the company appointed several new senior leaders to its management team on Monday.

The shares of the company was down by 1.85 per cent to ₹116.90 on BSE.

Nykaa on Monday appointed employees across the technology, finance, business, and marketing departments.

Among the new appointments, is Rajesh Uppalapati as chief technology officer. Uppalapati has previously worked for Amazon for 20 years across different roles and geographies.

Abhishek Awasthi, Eswar Perla, Dhruv Mathur and Amit Kulshrestha have joined the existing technology leadership team. 

With a collective experience of over 60 years between them across organizations such as Walmart, Amazon, Magicpin and LBB, they take on key roles in product and engineering.

P Ganesh is Nykaa’s new chief financial officer. Ganesh has previously served as CFO across companies such as TAFE Group, Pidilite Industries, Godrej Group and Glenmark Pharmaceuticals.

Nykaa has also appointed Sujeet Jain as the company’s chief legal and regulatory officer. He leads the legal, company secretarial, compliance & regulatory functions.

T.V. Venkataraman, with over 25 years of experience across companies such as Ashok Leyland, Flipkart, & Aditya Birla Group, joins the team, responsible for the Internal Audit & Risk Management charter.

Besides that, Vishal Gupta will now be the head of Beauty Consumer business at Nykaa. With over 27 years of experience at Unilever across geographies and BPC (beauty and personal care) categories, Gupta will lead innovation, brand building, growth and profitability for the business. He will also lead Superstore By Nykaa, the e-B2B distribution business.