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Mukesh Bansal, president of Tata Digital, has stepped away from the day-to-day operations of its new commerce arm Tata Neu, a report by the Economic Times (ET) said. Bansal will, however, continue serving an advisory role in the company.
Bansal was the co-founder of the e-commerce company Myntra and joined Tata Digital in June 2021. This comes as the company is undergoing a rejig in its top-level management.
According to the report, Bansal has attended some board meetings in the last few months. Now, Pratik Pal, the CEO of Tata Digital, looks after all the business decisions at the firm.
“The difference in approach on how to scale a new internet business played a role in these internal changes,” a person aware of the matter told ET.
Bansal might be looking to start his own venture. He founded Cultfit in 2016 with Flipkart’s Ankit Nagori. Tatas hold a minority stake in the company which is now called Curefit.
Recently, several other senior executives including Prateek Mehta and Sharath Bulusure have left Tata Digital. Both of them were hired by Bansal.
Since its launch, Nue’s overall growth has remained muted in comparison to its competitors like BigBasket. This is despite the acquisitions made by the conglomerate for Tata Neu like 1mg.
Several other companies owned by the group like AirAsia, Tata Cliq, Tanishq, Titan and Croma have been on the app but have not attracted much response.
In response to ET‘s query Bansal, however, said that it was “Factually incorrect”. He did not comment on his role specifically.
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