Mamaearth’s Chief Product & Technology Officer Jayant Chauhan Quits

In the run-up to its financial disclosure, Mamaearth parent Honasa Consumer informed the bourses that its chief product and technology officer (CPTO) Jayant Chauhan will soon be exiting the company.  

In its exchange filing dated October 15, the company said that Chauhan would be resigning from his post with effect from November 30, 2024, due to personal reasons.

“Due to personal reasons, I would like to tender my resignation from the post of Chief Product and Technology Officer of the Company. My last working day with the organisation would be November 30, 2024… I will always be just a phone-call away in case I am ever needed at Honasa in the future,” Chauhan’s resignation mail read. 

The IIT-Delhi alumnus has been with the parent entity of Mamaearth since 2020. Before joining Honasa, Chauhan served as the CPO (Chief Product Officer) of PolicyBazaar. In his nearly two-decade-long career, he has worked for companies like Samsung, Reliance, Zomato, Paytm and Airtel.

The company has yet to disclose who will be succeeding Chauhan. Meanwhile, his resignation comes at a time when the company is in the middle of thick regulatory mist. 

On October 7, authorities in Jammu & Kashmir fined Honasa on account of a mismatch in unit sale prices on its product. It received an order from the Office of the Assistant Controller Legal Metrology Kulgam, Jammu & Kashmir, regarding a compounding fee of INR 50,000, which has been imposed on the company and its nominated director or executive.

Earlier this month, Honasa informed the bourses about a Dubai court’s ruling in connection with its dispute with its former distributor RSM General Trading, directing attachment of the company’s assets. 

The court has, however, rejected the distributor’s demand to cancel the trading licence of Honasa’s subsidiary Honasa Consumer General Trading LLC. 

Honasa told bourses that the order would have no financial impact. 

Meanwhile, the beauty and personal care (BPC) major is set to announce its financials for the second quarter of the ongoing financial year (Q2 FY25). In Q1 FY25, its net profit jumped 62.9% YoY to INR 40.2 Cr from INR 24.7 Cr. Honasa’s Q1 operating revenue was up 19.3% YoY to INR 554 Cr.

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