Cleartrip CFO Aditya Agarwal steps down

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Cleartrip CFO Aditya Agarwal steps down
Cleartrip CFO Aditya Agarwal steps down

After working for a while at the private equity firm Texas Pacific Group, the departing CFO began working at Cleartrip in 2016 as head of corporate development.

Aditya Agarwal, the chief financial officer (CFO) of travel booking website Cleartrip, is leaving his role, the company announced in a statement. This move comes amid ongoing changes to Flipkart’s and its direct subsidiaries’ senior management.

Agarwal’s departure comes after that of Ayyappan R, the former CEO of Flipkart who also held positions at its apparel division, Myntra. Ayyappan had announced on LinkedIn that he was leaving the company to launch his own consumer technology company.

Akshat Mishra will take over as head of business finance, succeeding Agarwal. Mishra joined Flipkart in 2015, following a period of employment at Goldman Sachs. During the changeover, Agarwal will stay with Cleartrip for a few months, the statement added.

After working for a while at the private equity firm Texas Pacific Group, the departing CFO began working at Cleartrip in 2016 as head of corporate development. Agarwal also “played a pivotal role during the successful merger and subsequent integration of Cleartrip into the Flipkart Group,” the firm said in a statement on his exit. In 2021, Flipkart acquired Cleartrip.

Agarwal “made significant contributions across multiple roles, serving as CFO since 2020, and previously as head of corporate strategy and M&A,” it added.

Ayyappan, Amitesh Jha, who oversees marketplace and categories, Dheeraj A, who leads fintech and payments, and Bharath Ram, who drives growth and retention at the online retailer, were all reportedly set to depart from Flipkart and its group of companies in February, according to reports.

For the past few months, the company has been performing performance-based pruning across all verticals, including vice presidents of engineering and product. As of January 8, the layoffs will affect a total of 5–7% of the company’s workforce.

Cleartrip’s total loss in FY23 increased to Rs 676.6 crore, nearly twice as much as it did the previous year, while its total revenue decreased to Rs 96.7 crore, a 17% decrease.

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