Falguni Nayar, the founder and CEO of Nykaa, has stepped in to “guide” the marketing function as key executives quit the cosmetics to fashion retailer.

The parent company FSN E-Commerce Ventures’ scrips at Rs 143.35 were down 2.48 per cent on the Bombay Stock Exchange on Thursday.

This comes amid a Reuters report stating six executives have resigned since April, including chief marketing officer Shalini Raghavan along with senior vice-presidents in retail and fashion, and vice- presidents in e-commerce, marketing and communications.

The present exits follow a major induction announced by the company in April across the heads — technology, product, finance, legal, regulatory, business and revenue, marketing and customer growth.

“Marketing leadership at Nykaa has been strengthened over the last year across performance marketing, customer lifecycle management and content charters. Given the criticality of the marketing function to One Nykaa, founder and CEO, Falguni Nayar will guide the function directly,” the company said in a stock exchange statement on Thursday.

“As Nykaa evolves into a multidimensional, multi-geographic business, leadership roles are being augmented with an eye to strategic realignment, cost rationalisation and growing complexity of the business,” the statement said. It does not say why the executives have left.

The company further said that in June it has elevated Shailendra Singh as business head of physical retail-beauty, while he also continues to lead the omnichannel initiatives.

Singh, who was earlier with Hindustan Unilever, has been leading the beauty e-commerce brand management for the past 18 months.

The company has also brought in Rozita Nouruzi as CEO of Nysaa, the omni-channel beauty business in partnership with the Apparel Group in GCC (Gulf Cooperation Council). Nouruzi had assumed the role on June 21, 2023.

The statement also said that the company has hired a new leader to drive the next phase of growth for Nykaa Fashion’s owned western wear brands.