Falguni Nayar, the executive chairperson, MD, and CEO of Nykaa, shed light on the top-level exits that the company has been experiencing. Nayar revealed that these exits were a part of Nykaa’s efforts to upgrade its talent pool and reevaluate the roles of its executives.During the announcement of the company Q1 Fy24 results on August 11, Nayar addressed the issue and provided insights into the situation.
According to her, some of the employees who left Nykaa were not contributing significantly to the company’s growth and success. As a result, Nykaa decided to make changes and bring in fresh talent to drive its future ambitions. This explanation comes at a time when Nykaa has witnessed a series of senior-level departures. Since April, six senior executives, including the chief marketing officer, Shalini Raghavan, have resigned from the company.
Prior to that, in March, five other senior executives, including the Nykaa SuperStore CEO Vikas Gupta, Chief Business Officer Gopal Asthana, and Chief Commercial Officer Manoj Gandhi, also stepped down. Nayar’s remarks indicate that Nykaa is actively engaged in a talent upgrade initiative. The company is determined to ensure that its leadership team comprises individuals who are not only capable but also dedicated to making meaningful contributions to Nykaa’s growth and success.