Oyo India CEO Ankit Gupta and Europe head Mandar Vaidya have exited the firm.
An Oyo spokesperson told Entrackr in a statement that Gupta and Vaidya had moved on from their roles six months ago [in March 2023].
“We are proud of their achievements at OYO and are thankful for their leadership. Both roles were already transitioned 6 months ago to Varun Jain, as COO India, and, Gautam Swaroop, as CEO OYO Vacation Homes, respectively,” the spokesperson added.
Gupta, a former McKinsey executive, joined Oyo in December 2019 as COO and SVP of Frontier Business. During his nearly four-year-long tenure at Oyo, he served in different roles, including CEO of Franchise & Frontier business. He was elevated to the position of CEO of India in March last year.
According to sources, Gupta has been working on his entrepreneurial gig in a stealth mode for some time and likely to float his venture in a few months from now.
Vaidya has also been associated with McKinsey before joining Oyo in August 2019 as CXO for Southeast Asia and Middle East. He was elevated as the CEO for the Europe division in April 2021.
The exits come nearly six months after a major management rejig at Oyo. This included Oyo COO Abhinav Sinha being reassigned as chief product and technology officer, and chief business development officer Anuj Tejpal given the role of global chief merchant officer.
That said, more than 20 CEOs have quit their position either to join a new firm or continue within the same organisation with a different role, as per data compiled by Fintrackr. Some of the top names that saw its CEO leave their roles include DealShare, BharatPe, upGrad, boAt, and Flipkart Health+ (owned by Flipkart Group), ZestMoney, Cuemath and Porter. Just last week, Whitehat Jr CEO Ananya Tripathi reportedly submitted her resignation.
