Rivigo faces management crisis following a series of top exits

Rivigo is facing a management crisis with more than a half dozen c-suite, senior and mid-level executives leaving the logistics startup recently, according to four people familiar with the developments.
 
Chief financial officer Pramod Gupta, who joined Rivigo in July 2017 from Microsoft, is serving notice while industry veteran Bablu Tewari, who joined from courier company Gati in May 2016 to head Rivigo’s express vertical Zoom, has already quit.
 
Others exiting the company are chief people officer Nitin Sethi; chief technology officer Hemant Khandelwal; Reet Mohinder Singh, business strategy head of Rivigo’s marketplace for trucks, Vyom; enterprise account managers Piyush Gupta and Aditya Nagpal; and Abhishek Mohan from the client services division.
One of these executives confirmed the development but declined to be identified.
 
“The senior management at Rivigo has become fairly thin and the company is in the process of hiring replacements,” said one of the people aware of the developments, requesting anonymity. “There were unrealistic expectations from everyone (in terms of growth targets) and there was immense pressure on us to chase and achieve those targets.”
 
ET sent a detailed questionnaire to Rivigo on the senior executive churn at the company. Without disclosing any names, cofounder Gazal Kalra said the “movement of people at the senior level is minuscule and attrition in Rivigo is among the lowest in the technology-based companies in the country.” Kalra also said a clutch of senior executives recently joined or are in the process of joining Rivigo.
 
Among them are Dhruv Bhagat from Tata Sky who has joined as chief revenue officer; Carnegie Mellon University professor Vibhanshu Abhishek, who will be joining as head of data and artificial intelligence; ITC Foods’ former head of operations Anal Jha; and Pradeep Krishnamurthy from Reckitt Benckiser, Kalra said.
 
Rivigo, founded in 2014 by Deepak Garg and Kalra, recently raised $50 million from Warburg Pincus and SAIF Partners at a post-money valuation estimated at $1 billion. Prior to this, Rivigo had raised $75 million in series-C funding in November 2016. 
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