Avnish Anand, the co-founder of CaratLane has been appointed as the startup’s new chief executive officer (CEO) with immediate effect. The decision comes just days after his co-founder and former boss, Mithun Sacheti, made a remarkable exit by selling his CaratLane shares to Titan.
About a week after Sacheti’s exit, Anand has now been promoted from his previous role as the Chief Operating Officer (COO) of CaratLane.“Avnish (Anand)... was employee No.1 at CaratLane and an integral part of the founding team. He has played a stellar role in building CaratLane into what it is today,” the company said in a statement.
Last week, Titan, which already holds 71.09 percent in CaratLane, said it would further increase its stake to 98.28 percent by buying out Sacheti’s 27.18 percent share in the online jewellery retailer for Rs 4,621 crore.
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