Nykaa's shares slip ~2.5% as CFO Arvind Agarwal steps down

23 Nov 2022 , 11:50 AM

Arvind Agarwal, the Chief Financial Officer (CFO) of FSN E-Commerce Ventures (Nykaa), which operates the fashion and beauty platform Nykaa, tendered his resignation.

“We would like to inform you that Arvind Agarwal, Chief Financial Officer of FSN E-Commerce Ventures Limited, will be vacating his office from the company on November 25, 2022, at the close of business hours. Agarwal wishes to pursue other opportunities in the digital economy and start-up space,” Nykaa said in a BSE filing.

Nykaa founder and billionaire Falguni Nayar praised Agarwal for his critical role in Nykaa’s emergence as a publicly traded and profitable start-up. “While we regret losing him, we are aware of his personal goals and wish him the best in future endeavours,” she said.

The company stated that it is now in the process of appointing a new CFO.

At around 11.44 AM, Nykaa was trading at Rs171.10 down by 2.34% from its previous closing of Rs175.20 on the BSE. The scrip opened at Rs169.95 and touched intraday high and low of Rs174.40 and Rs169.30 respectively.

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