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Foot wear company Relaxo's vice president of marketing, Sachin Chhabra, resigned from his position on Monday. In a stock exchange filing, Relaxo mentioned, "Resigned from the position of Vice President – Marketing on June 16, 2025 effective from the closure of business hours on September 15, 2025".

Chhabra said he resigned due to personal reasons. He has been part of Relaxo for the past two years.

"It has been a privilege to be part of Relaxo over the past two years. I am deeply grateful for the opportunities I've had to contribute to the organization's growth and for the support extended to me throughout my tenure.

The collaboration and camaraderie shared with colleagues, stakeholders, and the leadership of the team have been immensely rewarding and enriching," Chhabra added in a BSE filing.

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"This decision has been made due to personal reasons, and I leave with utmost respect and appreciation for the organization," he said.

Relaxo, which makes products under 10 brands including Flite, Sparx, Bahamas, and Schoolmate, witnessed an 8% drop in its profit to Rs 56 crore in Quarter 4, ended on March 31 in fiscal year 2025.

The revenue from operations of Relaxo witnessed a 7% drop on a year-on-year basis to Rs 695 crore in Q4 FY25 compared to Rs 747 crore in the same period in fiscal 2024.

In full fiscal 2025, Relaxo’s revenue from operations declined to Rs 2,790 crore from Rs 2,914 crore in FY24.

Relaxo's marketing VP Sachin Chhabra resigns

Hitachi India has expanded the role and responsibilities of incumbent MD & CEO of Hitachi Energy, N Venu. The company has announced  the appointment of Venu as the Managing Director of the company. Venu is also the Region Head of South Asia at Hitachi Energy.

Venu's appointment follows the elevation of Hitachi's first Indian Managing Director Bharat Kaushal to Executive Chairman Hitachi India. 

Venu's appointment will be effective from 2 June 2025. According to the rail-to-healthcare conglomerate, Hitachi is transforming itself into a digital-centric company. 

On the appointment of Venu, Kaushal said, "The appointment of N Venu will reemphasize our vision and mission of making India as one of the most lucrative business hubs within Hitachi's cosmic ecosystem. N Venu has been instrumental in driving and steering business at Hitachi Energy, which has witnessed expansive growth under his leadership. Hitachi Energy is one of India's largest contributors in architecting a framework that goes beyond offering unparalleled energy solutions and has been supporting India in illuminating and realizing the dreams of billions. I firmly believe that his cosmic wisdom and business acumen will further strengthen the India operations, especially driving multiple stakeholders towards creating value to imprint an indelible social impact".

Venu has  has nearly four decades of work experience and has led Hitachi Energy in India since its formation in 2019. He was also the Chairman of the Karnataka chapter of the Confederation of Indian Industry (CII) during 2024-25. Venu has a degree in Electrical Engineering from NIT Warangal. 

Hitachi India appoints N Venu as its Managing Director

At least three senior executives of the IPO-bound Flipkart have reportedly departed. According to a report by Moneycontrol, Flipkart's head of grocery, Ankit Jain, VP of human resources (HR, technology), Prajakta Kanaglekar, and Vice President of the head of analytics Anurag Singhvi have quit from their positions.

Additionally, Ganesh Ramaswamy, VP (Flipkart) and chief product and technology officer (CPTO), Cleartrip, has also quit.

Singhvi has been associated with Flipkart for 13 years, while Jain, Ramaswamy, and Kanaglekar were each with Flipkart for nearly six years.

According to Moneycontrol, Jain will join Swiggy Instamart. He is likely to replace Chief Operating Officer Sairam Krishnamurthy and will join as SVP of Instamart.

Jain will be working with Instamart's CEO Amitesh Jha, who was his colleague at Flipkart until August 2024.

Several media reports also suggested that there was a leadership exit in the company in March this year as well. For instance, Ravi Vijayraghavan (SVP & CDAO), Harsh Chaudhary (VP Growth), Sandeep Karwa (VP Ads Platform), and Mayur Datar (SVP, Chief Data Scientist) resigned.

In February, Flipkart's chief product and technology officer, Jeyandran Venugopal, stepped down after an eight-year stint.

IPO-bound Flipkart sees multiple leadership exits in past 3 months

Quick commerce unicorn Zepto has appointed Akhil Gupta, vice chairman of Bharti Enterprises—the parent company of Bharti Airtel—as an independent director, ahead of its anticipated initial public offering (IPO) later this year.

Gupta, a telecom veteran who has played a key role in Bharti’s partnerships and public listings—including those of Bharti Airtel (2002), Bharti Infratel (2012), and Airtel Africa (2019)—is expected to bring strategic depth and IPO expertise to Zepto’s board.

The current board includes Zepto co-founders Aadit Palicha and Kaivalya Vohra, Anu Hariharan (founder of Avra), and Suvir Sujan (co-founder of Nexus Venture Partners).

This high-profile appointment is part of a broader push by Zepto to fortify leadership ahead of its market debut. In addition to onboarding experienced advisors, the company has been actively reshaping its senior management—promoting insiders like Devendra Meel to Chief Business Officer and elevating others into CTO and CGO roles.

However, Zepto has also witnessed several top-level exits, including CMO Amritansu Nanda, CBO Viral Jhaveri, and VP of Growth Manik Oberoi, among others, signaling ongoing churn amid its rapid scale-up.

Financially, Zepto is in a strong position. After shifting its base back to India from Singapore, it raised $1.35 billion across three funding rounds in just five months. Investors include Glade Brook Capital, StepStone, General Catalyst, Motilal Oswal, and Ranjan Pai’s Claypond Capital. The company is also in talks to raise an additional $300 million in a secondary round, aiming to attract more domestic mutual funds to bolster its IPO-readiness.

Zepto’s gross merchandise value (GMV) has touched $4 billion, representing a 300% year-on-year growth, placing it firmly in competition with Blinkit (Zomato), Swiggy Instamart, Flipkart Minutes, and Tata BigBasket in India’s $6 billion quick commerce market—expected to hit $25–30 billion in the coming years.

As the battle for dominance in this red-hot sector intensifies, Zepto’s latest board addition signals its readiness to play the long game.

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IPO-Bound Zepto strengthens board with Bharti’s Akhil Gupta as Independent Director

Raghu Krishnananda, Chief Product and Technology Officer (CPTO) at Myntra, has resigned from the fashion e-commerce platform owned by Walmart. According to an internal memo reviewed by Moneycontrol, Krishnananda will be transitioning out of the company over the coming weeks.

Krishnananda’s exit marks the second high-profile departure from the Flipkart Group in recent months. In February, Moneycontrol had reported that Jeyandran Venugopal, CPTO at Flipkart, was also stepping down after an eight-year tenure.

“After a stint of over five years, Raghu has decided to explore the next chapter of life outside of Myntra,” wrote Myntra CEO Nandita Sinha in the internal communication.

She added that until a suitable replacement is found, Krishnananda’s direct reports will temporarily report to her. “I thank him for his contributions and wish him success in the journey ahead,” she said.

Both Myntra and Flipkart are owned by US retail giant Walmart. Combined, the two platforms command over 57 percent of India’s fashion e-commerce market, according to analysts at BofA in a recent client note.

Other key players in India’s online lifestyle space include Reliance’s Ajio and Nykaa Fashion. The market, currently valued at around $16–17 billion, is expected to grow to $40–45 billion by 2028, as per a report published jointly by Bain & Company and Myntra last year.

In recent months, Flipkart has seen a string of senior-level exits, while Myntra itself has undergone an organisational restructuring. CEO Nandita Sinha was recently handed additional responsibility of leading Flipkart’s fashion vertical alongside her current role at Myntra.

Myntra has confirmed Krishnananda’s departure.

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Myntra’s Chief Product and Technology Officer Raghu Krishnananda steps down

Hitachi India has announced the elevation of Bharat Kaushal to the role of Executive Chairman, effective April 1, 2025. In addition to this appointment, Kaushal has been named Corporate Officer in charge of regional strategies (India) for the parent company, Hitachi Ltd.

Kaushal, who previously served as Corporate Officer at Hitachi Ltd. and Managing Director of Hitachi India, will also continue to serve as the Acting Managing Director for Hitachi India alongside his new role.

“This appointment re-emphasises Hitachi India's continued commitment to strengthening its over nine decades of unwavering partnership with India,” the company said in an official statement.

Kaushal became Hitachi India’s first Indian Managing Director in FY2017, a move that marked a significant milestone for the company’s local leadership. Since then, he has played a key role in broadening Hitachi’s presence across multiple strategic sectors in India.

“I am truly honoured and overwhelmed by the trust and confidence placed upon me in steering the future growth for Hitachi in India,” Kaushal said. “The new role will place a lot of responsibility in further architecting and driving a forward-looking roadmap for Hitachi’s colossal growth in India.”

Hitachi credited Kaushal’s “strategic vision” with driving the company’s expansion in India across diverse domains, including energy, infrastructure, healthcare, e-education, financial inclusion, and urban mobility. The company also highlighted his role in fostering strong relationships with stakeholders and contributing to India’s long-term development goals.

<a href="https://www.storyboard18.com/brand-makers/vivek-singh-appointed-as-ceo-of-home-credit-india-61995.htm">Read More: Vivek Singh appointed as CEO of Home Credit India</a>

Bharat Kaushal named Executive Chairman of Hitachi India, to lead growth strategy

At its meeting held on April 7, 2025, the Board of Home Credit appointed Vivek Singh as the Chief Executive Officer, effective immediately. Singh brings over 20 years of extensive experience in the financial services sector, with a strong focus on building and scaling businesses, driving digital transformation, and managing large-scale operations. He is poised to spearhead Home Credit India into its next phase of growth under the TVS Holdings umbrella.
 
K Gopala Desikan, Director, TVS Holdings, said on this appointment: "Home Credit India has played a pivotal role in advancing financial inclusion across the country. We are confident that Vivek’s deep understanding of the Indian financial landscape, particularly in the consumer & retail finance space, coupled with his proven ability to drive growth and innovation, will be invaluable as we move forward and strengthen the business of Home Credit India and build upon its strong foundation."
 
Sharing his vision, Vivek Singh, CEO, Home Credit India, said: "It’s an honour to lead Home Credit India at a time when technology is revolutionising how we serve customers.  I am committed to fostering innovation, enhancing customer experience, and expanding access to responsible credit. Home Credit India’s strong market presence provides a tremendous opportunity to further enhance our offerings, broaden our reach, and drive greater financial inclusion across the country. Together with the team, I look forward to shaping a more inclusive, responsible and tech-forward financial ecosystem in India."
 
Vivek holds an MBA and has received multiple industry accolades for his contributions to the financial services space.  He brings a proven track record of success in retail lending and customer-centric financial services. Prior to this, he held senior roles at multiple renowned financial institutions.
 
Under his leadership, Home Credit India enters a new era of innovation and inclusive growth.  The company remains committed to transparent, responsible lending and deepening credit penetration across India. 

<a href="https://www.storyboard18.com/brand-makers/dentsu-south-asia-appoints-amit-wadhwa-as-ceo-anita-kotwani-to-take-charge-of-cco-61984.htm">Read More: Amit Wadhwa named CEO, Creative & Media; Anita Kotwani elevated to Chief Client Officer at Dentsu</a>


Vivek Singh appointed as CEO of Home Credit India

The Chief Executive Officer (CEO) of Open Network for Digital Commerce (ONDC) has reportedly stepped down from his position after years of stint.

According to a report, ONDC CEO Thampy Koshi's final day at the company is June 30, 2025. The report mentioned that the board has no immediate plans to find Koshy's replacement.

On Koshy's exit, ONDC said that the CEO expressed a desire to step down while helping with the change.

His responsibilities have been transitioned to an executive committee. However, Koshy will be available to the board for advice over the next three months.

This latest development has come after ONDC's chief business officer (CBO) Shireesh Joshi resigned in March this year citing personal reasons. Notably, RS Sharma, the non-executive chairperson of ONDC, resigned in December 2024 after after serving for four months.


ONDC, the government-backed initiative has crossed 200 million transactions on its network since its launch in September 2022. However, its retail segment, which includes food delivery and e-commerce, witnessed a drop in orders following the cut in financial incentives to sellers and customers.

The retail transaction reduced to 4.6 million in February 2025 from 6.5 million in October 2024.

Initially, ONDC provided financial incentives to onboard sellers, drive transactions, and fund customer discounts. Later, the network slashed the monthly cap on these incentives from Rs 3 crore in July 2024 to Rs 30 lakh at present.


ONDC has been formed to create an open and inclusive digital commerce ecosystem in the country. The network hosts several buyer and seller apps across segments, such as  Paytm, Ola, Delhivery, etc.

Thampy Koshy quits as ONDC CEO; Third senior leader to depart in less than 6 months

Kotak Mahindra Bank today announced the appointment of Bhavnish Lathia as the new Chief Technology Officer (CTO) for the Bank.

Announcing the appointment, Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, said, "Bhavnish has been instrumental in driving our technology initiatives for the last three years, building a world-class team of engineers to help drive our technology agenda. The rapid deployment of technology, with business leaders working closely with their respective technology teams, will be key to transforming our businesses for scale. This approach will drive customer satisfaction and organizational efficiency. And with Bhavnish's leadership, we will achieve our ambitious agenda and set the bar for technology leadership in the banking industry."

Bhavnish Lathia, CTO, Kotak Mahindra Bank said, "I am honoured to take on this new role at Kotak Mahindra Bank. Technology is a key driver of our strategy to transform for scale, and I am excited to lead our efforts in this area. Together with our talented team, we will continue to push the boundaries of innovation to deliver exceptional value to our customers and stakeholders."

Bhavnish's appointment is part of Kotak's strategic efforts to strengthen its leadership team and drive growth through innovation. His leadership will be crucial in ensuring that Kotak remains at the forefront of technological advancements in the banking sector.

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Bhavnish Lathia appointed as Chief Technology Officer at Kotak Mahindra Bank

Westlife Foodworld has elevated Akshay Jatia to the Chief Executive Officer position.

According to the exchange filing, Jatia, who is the Executive Director (Whole Time Director) of the company has been elevated to Key Managerial Personnel, that is CEO. Akshay Jatia has been associated with Westlife Foodworld for more than 10 years. 

Westlife Foodworld, the master franchisee of McDonald's restaurants in West & South India, said that the incumbent CEO Amit Jatia will cease to play the CEO role with effect from 18 March.

However, both Amit Jatia and Akshay Jatia will continue as Directors on the Board of Directors of the Company, and that there is no change in the composition of the Board of Directors of the Company i.e. Westlife Foodworld Limited, the stock filing mentioned.

Westlife Foodworld Limited, formerly known as Westlife Development Ltd (WDL), focuses on setting up and operating Quick Service Restaurants (QSR) in India through its subsidiary Hardcastle Restaurants Pvt. Ltd. (HRPL). The Company operates a chain of McDonald’s restaurants in the country, having a master franchisee relationship with McDonald’s Corporation US, through the latter’s subsidiary. 



CXO MOVEMENT