Stepping Down the Urban Ladder
Three executives have left the co since Nov, though etailer terms it natural attrition
New Delhi: After Flipkart and Snapdeal, online furniture seller Urban Ladder has witnessed some top-level exits.
Three executives – Kartikeya Misra, vice-president, products and design; Vishwanath V, director-brand management, and Suman Punuru, director-sales – have left the company since the end of November, a person familiar with the matter said. Vishwanath’s stint with Urban Ladder did not last a year, while Misra and Punuru worked for a little over a year. Apurva Dalal, chief technology officer, had moved to Uber in July as head of engineering after spending a year at Urban Ladder.
“It is a very natural/regular attrition number for a company that has been in business for almost five years now,” an Urban Ladder spokesperson said in response to an email sent by ET, confirming the departure of the executives.
Misra currently works as director of project management at WalmartLabs India and Vishwanath is chief marketing officer at Voonik, according to their LinkedIn profiles. Punuru is a consultant. The former Urban Ladder employees declined to comment or were not reachable. The ecommerce sector has hired top talent over the past two years by doling out massive pay packages. The three executives who recently left Urban Ladder drew annual pay packets of close to ₹ 1 crore, the person said.
“It is getting difficult for the company to maintain a top-heavy workforce, especially at a time when the growth is not taking place as envisaged,” said the person who did not wish to divulge his identity. Flipkart tops the chart in terms of most number of executives packing their bags after short tenures, as reported by ET in December. From CFO Sanjay Baweja and CTO Peeyush Ranjan, the list includes Mukesh Bansal, Lalit Sarna, Sunil Gopinath, Anand KV, Prakash Tilwani, Punit Soni and Satyam Bansal. At Snapdeal, Abhishek Kumar, head of M&A and investments, and Sandeep Komaravelly, one of the oldest employees, have resigned, as reported by ET this month.
“We are seeing top-level attrition in the ecommerce sector as hiring was on basis of technical skills and not the softer skills. Questions like ‘Will this talent culturally fit into the company?’ were never asked,” said Anirban Gupta, a senior consultant at Aon Hewitt.
Three recent top-level exits at the online furniture sellerdrew annual pay packets of close to 1 crore