International ·Flipkart

The CFO of India’s Biggest Online Retailer Has Resigned at a Curious Time

BYReuters
October 26, 2016, 5:30 AM UTC
General Images of Flipkart As India's Largest Online Retailer Said To Buy Competitor Myntra
Flipkart's application is displayed on an Apple Inc. iPhone 5c in an arranged photograph in Hong Kong, China, on Wednesday, May 21, 2014. Flipkart, India's largest online retailer, will buy competitor Myntra.com, according to people with knowledge of the talks, to gain a business with higher margins and strengthen its position in the local market against Amazon.com Inc. Photographer: Brent Lewin/Bloomberg via Getty Images
Brent Lewin/Bloomberg via Getty Images

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 U.S. retailer Wal-Mart Stores (WMT) to raise up to $1 billion for a minority stake.

Baweja joined Flipkart in September 2014.

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

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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.