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FreeCharge CEO Govind Rajan Quits as Snapdeal Announces Layoffs

FreeCharge CEO Govind Rajan Quits as Snapdeal Announces Layoffs 6w476w

By Press Trust of India | Updated: 22 February 2017 14:51 IST

Highlights

Govind Rajan was elevated to the CEO post in May last year
His departure has been confirmed by Snapdeal's Kunal Bahl
Snapdeal earlier said it's exploring ways to optimise costs

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Govind Rajan, the CEO of Snapdeal-owned FreeCharge, has put in his papers after less than 2 years of ing the digital payments firm. 4c1e4q

When ed, Snapdeal confirmed the development. "Govind has brought incredible energy and focus in growing FreeCharge. The pace of progress will continue with the strong team that he has built. I am sure he will bring the same level of ion and resolve whatever he chooses next," Snapdeal co-founder and CEO Kunal Bahl said.

Rajan had ed was elevated to the post of CEO in May last year.

acquired FreeCharge in April 2015.

The development comes at a time when the SoftBank-backed company is exploring ways to optimise its costs. According to sources, it is also laying off 600 people.

Jason Kothari will oversee the business operations of FreeCharge, as part of his overall responsibilities of portfolio management.

The former Housing.com CEO had ed Snapdeal last month as its chief strategy and investment officer.

Details of Rajan's next assignment could not be ascertained.

"I am confident that FreeCharge will achieve still greater heights under its incredibly talented team and I look forward to facilitating the transition over the next few weeks," Rajan said.

Rajan's departure is the latest top-level exit from Snapdeal. In May last year, its product head Anand Chandrasekaran had quit the firm and later ed Facebook as head of platform and product partnerships.

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FreeCharge CEO Govind Rajan Quits as Snapdeal Announces Layoffs 6w476w

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