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Tata Group begins search for new BigBasket CEO: Report

Entrackr

Entrackr · 27d ago

Tata Group begins search for new BigBasket CEO: Report

Tata Group begins search for new BigBasket CEO: Report Tata Group-owned BigBasket is preparing for a leadership transition, with CEO and co-founder Hari Menon expected to step away from daily operations, according to an ET report. Menon, whose five-year term after Tata Digital’s acquisition of BigBasket in 2021 is coming to an end, is working with the board to identify a successor. As per the report, the search for a new CEO has been underway for months, and the appointment could be finalised soon. Tata Group is looking for an executive with strong execution skills to strengthen BigBasket’s position in the fast-growing quick commerce segment, where rivals Blinkit, Swiggy Instamart, and Zepto currently dominate. BigBasket was founded in 2011 by Hari Menon, VS Sudhakar, Vipul Parekh, Abhinay Choudhari, and VS Ramesh. While Choudhari exited after the Tata deal, Sudhakar also moved on earlier this year. Parekh continues to oversee marketing and finance, while Ramesh leads logistics and supply chain. The company recently brought in new leadership talent, appointing Manish Bajoria, former CFO of Vini Cosmetics, as its chief financial officer in July.

Related News

BigBasket founders plan to step back; CEO Hari Menon prepares succession amid Tata Group’s quick commerce push

Economic Times

Economic Times · 27d ago

BigBasket founders plan to step back; CEO Hari Menon prepares succession amid Tata Group’s quick commerce push

BigBasket founders, including CEO Hari Menon, plan to transition into mentoring roles as Tata Group seeks new leadership to enhance their quick commerce strategy. With Menon's tenure nearing its end post-Tata's 2021 acquisition, candidates are being shortlisted for succession. Tata Digital, owning a major stake in BigBasket, is driving this change to bolster market competitiveness against rivals. BigBasket's revenue has seen a decline, intensifying the need for strategic adaptation in the evolving online grocery market.

Tata Digital explores operational integration

Economic Times

Economic Times · 1y ago

Tata Digital explores operational integration

Tata Digital is considering integrating the operational structures of its key assets, including BigBasket, 1mg, and Tata Cliq, to streamline operations and improve market responsiveness. BigBasket is also seeking funding of up to $100 million from parent company Tata Sons. Similarly, 1mg is expected to receive financial support. Tata Digital plans to consolidate its standalone apps under the Tata Neu app to increase consumer engagement and operational efficiency. The company aims to address slower-than-expected growth by appointing a new CEO, Naveen Tahilyani.

ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm

Economic Times

Economic Times · 4m ago

ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm

Naveen Tahilyani has resigned as Tata Digital CEO after just a year, highlighting the Tata group's leadership challenges in their digital sector. Under his brief tenure, the company aimed to revamp its digital strategy, focusing on Tata-owned brands and coherence among its portfolio, including Croma and BigBasket. Tahilyani, who had succeeded Pratik Pal, is expected to assume an overseas role within the Tata group. His departure adds to Tata's ongoing digital transformation struggles.

Change of Cart: Tata plans CEO change at BigBasket - The Economic Times

Economic Times

Economic Times · 27d ago

Change of Cart: Tata plans CEO change at BigBasket - The Economic Times

BigBasket CEO Hari Menon is planning a leadership transition as his five-year tenure concludes. He may transition to a mentor role while shortlisting candidates for CEO in collaboration with the board. This change is part of Tata Sons’ strategy to enhance BigBasket's quick commerce market position against competitors like Blinkit and Zepto. Tata Digital acquired a major stake in BigBasket in 2021, and the company is now seeking to raise fresh capital and reposition its business approach.

BigBasket Under Pressure: Tata Sons Pushes for External Funding Amid Quick Commerce Race

OutlookIndia

OutlookIndia · 7m ago

BigBasket Under Pressure: Tata Sons Pushes for External Funding Amid Quick Commerce Race

Tata Sons is dissatisfied with BigBasket's performance in the fast-growing quick commerce market, where competitors like Zomato, Swiggy, and Zepto are advancing rapidly. As a result, Tata Sons pushes BigBasket to seek external funding of $1 billion to remain competitive. Despite not leading this funding round, Tata Sons is encouraging BigBasket’s management to bring in financial investors. BigBasket aims for profitability and an IPO by 2025, with its new BB Now service.

Tata Sons Stalls Fresh Investments Into Its Ecommerce, Electronics Ventures : Report

Inc42 · 1y ago

Tata Sons Stalls Fresh Investments Into Its Ecommerce, Electronics Ventures : Report

Tata Digital, the holding company for Tata Group's ecommerce businesses, has reportedly invested around INR 19,000 Cr so far. However, in FY23, the combined losses of Tata Digital's key businesses, including Croma, Tata Cliq, and BigBasket, increased to over INR 4,700 Cr from INR 3,130 Cr in FY22. In response, the newly appointed CEO, Naveen Tahiliani, has implemented measures to manage costs more effectively.

Tata Group-backed BigBasket plans IPO in two years as business booms

VCCircle

VCCircle · 7m ago

Tata Group-backed BigBasket plans IPO in two years as business booms

India's BigBasket, backed by Tata Group, plans to go public within two years, aiming to capitalize on the increasing demand for quick online deliveries. The company intends to double its business by March 2026 and expand from 35 to about 70 Indian cities. Amidst a booming quick commerce industry, BigBasket, whose revenue is majorly from quick commerce, is also broadening its product range to include electronics, pharmaceuticals, and fashion.

BigBasket to join 10-minute food delivery race by FY26, takes on Zomato, Swiggy

Business Today

Business Today · 3m ago

BigBasket to join 10-minute food delivery race by FY26, takes on Zomato, Swiggy

BigBasket, supported by Tata Group, plans to launch a 10-minute food delivery service across India by 2026, aiming to rival Zomato and Swiggy in the quick-commerce market. The service expansion includes increasing dark stores from 700 to 1,200 by 2025, enhancing logistics for rapid delivery. Following a successful pilot in Bengaluru, BigBasket seeks to not only provide speed but also improve service quality to maintain its standing among consumers.

BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%

Economic Times

Economic Times · 1y ago

BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%

Innovative Retail Concepts Pvt Ltd, the B2C unit of BigBasket, posted a 6% YoY growth in operating revenue for FY24, reaching Rs 7,885 crore. It reported a net loss of Rs 1,267 crore, down 17% YoY. The company faces competition from quick commerce players like Blinkit, Instamart, and Zepto in the online grocery delivery space. BigBasket is planning to shift its focus entirely to quick commerce. The company's total expenditure increased slightly, while advertisement income remained flat. Tata Group, which owns majority stake in BigBasket, halted fresh investments to reevaluate profitability strategies. BigBasket aims to raise $80-100 million for expansion plans, including the expansion of dark stores.

Dial reset, again: Tatas in talks to bring external CEO to lead Tata Digital - The Economic Times

Economic Times

Economic Times · 1m ago

Dial reset, again: Tatas in talks to bring external CEO to lead Tata Digital - The Economic Times

Tata Digital plans to appoint an external CEO, its third since 2019, in a strategic overhaul to address scale-up challenges and streamline its consumer digital portfolio, including BigBasket and Tata Cliq. This follows the exit of former CEO Naveen Tahiliyani due to strategic disagreements. Tata Sons chairman N Chandrasekaran is temporarily overseeing operations, emphasizing operational discipline and profitability. The leadership reset aims to improve delivery efficiency and foster synergies among the company's various verticals.

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