Top Vini execs brought in after KKR deal walk out
ACCording to several people aware of the developments, CEO Vishal Kaul, human resource head Manisha Kadagathur, and chief revenue officer Amar Jethithor have tendered their resignations. Chief marketing officer Sushrut Pant, who joined Vini this March, quit in November and joined Shree Cement as head of marketing, according to his LinkedIn profile. Darshan Patel, non-executive chairman of Vini Cosmetics, confirmed the CEO’s exit.
“He has put in his papers. We have already started looking for a replacement," said Patel, who founded the company in 2010. “Our business is growing at about 15–18%per annum.
We are not downsizing anything." Patel also appeared confident about KKR, saying it continues to be invested in Vini. “They have just entered the business. They will be invested for many years," he said.
Calls made and texts sent to Kaul, Kadagathur, and Jethithor remained unanswered, while Pant could not be reached for comment. KKR, which bought a 54% stake in Vini Cosmetics for $625 million in 2021, did not respond to emailed queries. Several mid-level employees are on their way out, too.
Zonal sales director for East India, Devi Prasad Raul, quit in October after a year with the company, and moved to Nigeria with DP World, per his LinkedIn profile. And national trade marketing manager Umesh Kumar, as well as go-to-market head Viraj Kamboj are also on their way out, according to the people mentioned above. The development comes amid differences between the professional management that was brought in over the past two years, and the company’s original promoters Darshan and his brother Dipam Patel.
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