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Flipkart’s chief financial officer Sanjay Baweja resigns

This move comes at a time when Flipkart is reportedly in advanced talks Walmart to raise $1 billion

Flipkart’s chief financial officer Sanjay Baweja has quit the company. The reasons behind his departure are still unclear. Flipkart has witnessed a series of top management exits over the last couple of years.

A Flipkart spokesman told Hindustan Times that December 31 would be Baweja’s last day at the company and the search for a replacement had begun, although it is not clear who will replace him.

Baweja, 56, joined Flipkart two years ago after stints at Tata Communications Ltd, Emaar MGF and Bharti Airtel Ltd. He had been brought in to bring Flipkart on to a profitable track and preparing the company for an eventual initial public offering.

This move comes at a time when Flipkart is reportedly in advanced talks Walmart to raise $1 billion. It also comes amid the crucial festive season, which tends to be one of the most important periods for e-tailers to boost their sales.

There is speculation that Baweja may join the Tata Group and help with its e-commerce ventures, according to Financial Express.

The countries biggest E-commerce giant has seen a number of top level management exits in the last one year. Earlier this year, Myntra founder and Flipkart e-commerce platform head Mukesh Bansal left the company, together with chief business officer Ankit Nagori. Vice president and head of seller marketplace and ecosystem at Flipkart Manish Maheshwari quit in April this year.

Flipkart has been trying to consolidate its way to profitability after facing fierce competition from Amazon. The company is also trying to find new investors.

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