ETtechSenior-level departures from top new-age companies, such as Flipkart, Myntra, Eternal and Delhivery, are among this year’s top “free” executives, data from search firm Longhouse shows.
Flipkart Group entities, including its quick commerce unit Minutes, fashion portal Myntra, and online travel agency Cleartrip saw multiple departures this year resulting in free agents. This includes Kabeer Biswas, founder of Dunzo, who stepped down from Flipkart Minutes in October, less than a year after taking charge of the business.
ET had reported that Biswas is in discussions to raise about $12 million for his new venture, a personal AI concierge service. He was also earlier negotiating joining Tata Digital-backed BigBasket to lead the quick commerce company.
ETtechAt Myntra, at least two senior leaders emerged as free agents, with CFO Abhishek Gupta resigning alongside CPTO Raghu Krishnananda. Both are yet to finalise their next roles. The company also saw chief business officer Sharon Pais move to parent Flipkart to lead its fashion business. These changes come as the Flipkart Group prepares for a public listing in 2026.
Cleartrip’s CPTO Ganesh Ramaswamy, who joined the travel portal in 2023 from parent Flipkart, also quit earlier this year.
“The startup ecosystem has matured. Earlier there was an over-hiring driven by steep growth projections and this led to greater churn when the real business didn’t keep pace. Now at leadership levels the problem statements are better etched. Plus the overall macro economic sentiment has made this a predominantly employers market,” said Madhur Nevatia, partner, Longhouse.
“Leadership roles are more sparse. So people take more pragmatic decisions in leaving and then in accepting other positions. With greater maturity, an interesting aspect of fractional leaders is getting a lot of traction – leaders get to do fulfilling work and organisations get access to high quality talent,” Nevatia added.