IANSTata Group’s internet business arm Tata Digital appointed Hardeep Singh Guru as its new chief financial officer in August this year, according to regulatory filings with the ministry of corporate affairs.
Guru succeeds Tata Sons veteran Suresh Kasturirangan, who served as the CFO from Tata Digital’s inception in 2019.
According to two sources aware of the matter, Guru is seen as a long-term CFO for Tata Digital as Kasturirangan is a retired Tata Consultancy Services veteran, who was asked to take charge of Tata Digital’s finances in its early days.
“Suresh was called back from retirement just to set this thing up,” said one of the sources cited above. “He is still in the company and is ensuring a smooth transition but is expected to leave soon.”
The two sources added that Kasturirangan is likely to continue in an advisory role after Guru takes over.
Tata Digital did not respond to queries sent by ET.
This is the company’s second C-suite level change since July, after CTO Sauvik Banerjjee left the company just three months after the launch of the Tata Group’s much-anticipated superapp Tata Neu, which ET had reported on July 28.
Guru, too, is a group veteran with more than a decade of experience in different Tata Sons companies. He worked in chairman N Chandrasekaran’s office in Mumbai before joining Tata Digital’s finance team in January.
Earlier, he had served as the chief financial officer of Tata Power subsidiary Coastal Gujarat Power Limited, and as the CFO of Cenergi, Tata Power’s joint venture in South Africa.
Kasturirangan, meanwhile, presided over some big-ticket acquisitions during his tenure, including egrocer BigBasket and online pharmacy 1mg, taking the company’s revenue past Rs 16,000 crore in FY22.
The company’s revenue is set to increase further in the current financial year as Tata Industries is expected to hive off some of its significant startup businesses, such as Tata Cliq, Tata Cliq Luxury, Tata Cliq Palette and Tata Health, to Tata Digital as part of a move to consolidate scalable ecommerce entities under one roof.
Guru succeeds Tata Sons veteran Suresh Kasturirangan, who served as the CFO from Tata Digital’s inception in 2019.
According to two sources aware of the matter, Guru is seen as a long-term CFO for Tata Digital as Kasturirangan is a retired Tata Consultancy Services veteran, who was asked to take charge of Tata Digital’s finances in its early days.
“Suresh was called back from retirement just to set this thing up,” said one of the sources cited above. “He is still in the company and is ensuring a smooth transition but is expected to leave soon.”
The two sources added that Kasturirangan is likely to continue in an advisory role after Guru takes over.
Tata Digital did not respond to queries sent by ET.
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This is the company’s second C-suite level change since July, after CTO Sauvik Banerjjee left the company just three months after the launch of the Tata Group’s much-anticipated superapp Tata Neu, which ET had reported on July 28.
Guru, too, is a group veteran with more than a decade of experience in different Tata Sons companies. He worked in chairman N Chandrasekaran’s office in Mumbai before joining Tata Digital’s finance team in January.
Earlier, he had served as the chief financial officer of Tata Power subsidiary Coastal Gujarat Power Limited, and as the CFO of Cenergi, Tata Power’s joint venture in South Africa.
Kasturirangan, meanwhile, presided over some big-ticket acquisitions during his tenure, including egrocer BigBasket and online pharmacy 1mg, taking the company’s revenue past Rs 16,000 crore in FY22.
The company’s revenue is set to increase further in the current financial year as Tata Industries is expected to hive off some of its significant startup businesses, such as Tata Cliq, Tata Cliq Luxury, Tata Cliq Palette and Tata Health, to Tata Digital as part of a move to consolidate scalable ecommerce entities under one roof.
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