Snapdeal’s Chief Financial Officer Anup Vikal resigns

By

Maverick Martins

Published
Oct 18, 2017

India’s online marketplace Snapdeal’s Anup Vikal has resigned as the Chief Financial Officer of the company, the e-commerce firm said in a statement.
 

Snapdeal rolled out a smaller version of the e-commerce firm scaling down its operations last month after negotiations with Flipkart failed triggering a wave of restructuring throughout the company.
 
Snapdeal Co-Founder and CEO Kunal Bahl said Vikal has done sterling work at the firm, building high levels of governance and helping structure various transactions of importance for the company. “I wish him the very best for his professional pursuits. He has led the finance function with distinction, contributing immensely in furthering the profitability initiatives of Snapdeal, which the deep bench of Snapdeal’ finance team will continue,” Bahl said in a statement.

Vikal said “it has been a privilege to lead the finance and legal teams, at Snapdeal, through a series of intense and crucial activities around divestments, profitability and investor relations.” His next destination could not be immediately ascertained.
 
Snapdeal had 9,000 employees in July last year and, after a restructuring that took place without notice, there were only 1,200 employees left with jobs. Now, out of this workforce of 1,200, around 1,000 are expected to lose their jobs leaving only 200 in work in the smaller version of the firm.