Udaan’s CFO Aditya Pande Quits, to Join InterGlobe Enterprises as CEO

Udaan, the B2B e-commerce startup, has announced the departure of its Chief Financial Officer (CFO) Aditya Pande. Pande will be joining InterGlobe Enterprises as CEO. This move follows a series of high-profile exits from Udaan in recent months.

Aditya Pande had previously served as the CFO of Indigo, a part of the InterGlobe group, before joining Udaan in February 2021. His role at Udaan will be divided between Kiran Thadimarri, Group Finance Controller, and Vishnu Menon, who heads corporate strategy & investor relations (IR).

Expressing gratitude for Pande’s contributions, CEO and co-founder Vaibhav Gupta stated, “I would like to thank Aditya for his invaluable contribution to the organisation and wish him the very best in his future endeavours.”

Pande’s departure comes amid a series of senior executive exits from Udaan. In September, chief business officer Vivek Gupta and chief technology officer Gaurav Bhalotia left the company as it merged its essentials business with the discretionary business. Vivek Gupta joined United Breweries as CEO.

The recent restructuring at Udaan integrated FMCG, staples, and pharmacy categories with the division selling general merchandise, lifestyle, and electronics-related products, aimed at improving the company’s financial health.

Following Pande’s exit, Udaan aims to strengthen its financial and governance practices under the leadership of Kiran Thadimarri and Vishnu Menon. The company is focused on achieving operational profitability and public market readiness in the next 12-18 months.

Pande’s departure comes after Udaan secured $340 million in additional capital from UK’s M&G Plc, Lightspeed Venture Partners, and DST Global. However, the company’s valuation has fallen to around $1.8 billion from $3.1 billion in January 2022 due to business slowdown, leading to workforce reduction by about 10 percent, or approximately 150 employees, in December.