PineLabs CEO Amrish Rau believes that hiring experienced corporate executives as a shortcut to achieve faster growth never works out in the long run.
What Happened? In a tweet on Monday, Rau said that established startups should avoid mergers and acquisitions solely for the purpose of gaining new revenues. Similarly, emerging startups should not hire experienced corporate executives as a shortcut to achieve faster growth.
Rau strongly believes that organic speed of execution is crucial and cannot be purchased.
Rau’s views arrive at a time when notable beauty and wellness major – Nykaa welcomed several new senior leaders across technology, finance, business, and marketing to spearhead its growth.
The company in an exchange filing confirmed the appointment of Rajesh Uppalapati as the Chief Technology Officer, as well as P Ganesh as the Chief Financial Officer. According to details updated on LinkedIn, Uppalapati joins from Cupertino-based business software company Intuit where he joined after a 19-year-long stint at Amazon.
See also: Nykaa Business Updates Paint Rosy Picture For Q4, But Investors Are Seemingly Not Buying It
Meanwhile, P Ganesh joins the e-commerce company from Tractors and Farm Equipment (TAFE) which is one of the leading tractor manufacturers in the country. He has served a similar role at Pidilite, Glenmark Pharmaceuticals, and Godrej Group.
Reports state that the recent appointments followed the resignation of five executives in March due to a significant drop in the company’s stock price. The executives who stepped down include Chief Commercial Operations Officer Manoj Gandhi, Chief Business Officer of the fashion division Gopal Asthana, Vice President of Nykaa's fashion division Suchi Pandya, and Vice President of Finance at the company’s fashion unit Lalit Pruthi.
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