In the second top-level departure at kids-focussed omnichannel retailer FirstCry, its chief of staff Sanket Raghavendra Hattimattur has stepped down from his role citing “personal reasons”.
In an exchange filing, FirstCry said that Hattimattur tendered his resignation on Saturday (March 1). The company added that he will be relieved from his position with effect from close of business hours on March 31.
FirstCry, however, added that Hattimattur, who is also an executive director and a key managerial personnel (KMP), will continue to be the director of the company in a “non-executive capacity”.
“I am writing to inform you of my resignation from my position as Chief of Staff at Brainbees Solutions Ltd (FirstCry’s parent) due to personal reasons… I am immensely grateful for the opportunities of growth and experience I’ve gained during my time here. I appreciate your support and guidance,” Hattimattur’s resignation letter read.
The company did not announce a replacement for Hattimattur.
With previous experiences at Zycus and Tata AIG Life Insurance, Hattimattur, as per his LinkedIn profile, joined FirstCry in 2010 as the chief of staff. He was elevated to the role of executive director of the company in 2022.
This comes a week after to pursue “new avenues for professional growth”. She will step down from her role on March 25
Founded in 2010 by Supam Maheshwari, Amitava Saha, Prashant Jadhav, and Sanskriti Hattimattur, FirstCry is an omnichannel consumer brand for kids and baby products with operations across the country.
The kids-focussed omnichannel in the third quarter (Q3) of the fiscal year 2024-25 (FY25) from INR 48.41 Cr in the year-ago quarter. Its revenue from operations jumped 14.3% to INR 2,172.30 Cr during the quarter under review from INR 1,900.19 Cr in Q3 FY24.
Meanwhile, amid the sharp correction in the Indian equities market, the company’s stock has also been on a downward spiral. Shares of FirstCry slumped over 10% in the past five trading sessions.
The stock ended Friday’s (February 28) trading session 0.09% lower at INR 376.75 on the BSE.
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