Zepto's VP of operations resigns amidst high-level exits
What's the story
Zepto's Vice President of Central Operations, Jitendra Bagga, has resigned after a nine-month stint with the company.
At Zepto, Bagga oversaw mother hubs (MH) and line haul (LH) projects in the warehousing division.
His exit comes as Zepto is on a major expansion drive, ramping up its dark store count from about 300 at the beginning of this year to over 750 now.
Career history
Bagga's extensive experience in supply chain management
Before joining Zepto in April, Bagga had a long career of over 27 years, including three years at Raymond Limited and over 24 years at Reliance Retail.
His expertise in supply chain management and related areas were key to Zepto's future plans.
The company is yet to announce a successor for Bagga but is likely to promote from within, given its current focus on internal hiring.
Executive exodus
Bagga's departure follows other high-level exits at Zepto
Bagga's resignation is the second high-profile exit from Zepto in recent months, after Chief Human Resource Officer (CHRO) Martin Dinesh Gomez's exit after an 11-month stint.
Other senior executives who have left Zepto this year include Viral Jhaveri, former Chief Business Officer/Chief Growth Officer; Ashish Shah, Senior Vice President of Finance; and Manik Oberoi, Vice President of Growth and Retention.
These exits come as Zepto plans to shift its HQ and employees from Mumbai to Bengaluru.
Market debut
Zepto's IPO plans remain unaffected by executive departures
Zepto's plans for a 2025 public market debut remain on track.
The company has appointed Goldman Sachs, Morgan Stanley, and Axis Capital as bankers for its IPO.
As part of its pre-IPO preparations, Zepto is increasing its domestic shareholding and reducing the stake of foreign investors.
The company plans to raise over $500 million through this public offering.