Master will continue to serve as the chief business officer at Honasa till February 28, 2025
In November 2024, Honasa Consumer announced the elevation of Vipul Maheshwari to the role of senior vice president – product and data analytics
Master’s resignation comes at a time when a lot of late stage and listed startups are witnessing a slew of top level exits
Zairus Master, the chief business officer (CBO) of Mamaearth
parent Honasa Consumer, has resigned from his role.
In an exchange filing, the company said that Master, who is also a designated senior management personnel, has tendered his resignation with effect from the closure of business hours on February 28, 2025 due to personal reasons.
In his resignation mail, the outgoing CBO said, “It’s been an incredible journey over the last few years and I am grateful for the opportunity to contribute to building Honasa, However due to personal reasons I would like to resign from my position…”
“It’s been a privilege to be a part of an amazing team. I will always be rooting for Honasa’s success and look forward to staying connected,” he added.
According to Master’s LinkedIn profile, he joined the Delhi NCR-based company in 2021 from Shine.com, where he served as the CEO of the job listing platform. Overall, he has over 20 years of experience. Previously, he worked with companies like Airtel, Nokia and Hindustan Unilever.
Honasa hasn’t named a replacement for Master yet.
This is the second high-level exit from the company in recent months. In October 2024, its chief product and technology officer (CPTO) Jayant Chauhan resigned from his position.
In November, Honasa announced the elevation of Vipul Maheshwari to the role of senior vice president – product and data analytics.
Master’s resignation comes at a time when the company is under pressure as it slipped into the red in Q2 FY25 on account of a change in its business model. It posted a net loss of INR 18.6 Cr during the quarter as against a profit of INR 29.4 Cr in the year-ago quarter. Following this, the company’s shares hit a 52-week low in November.
Meanwhile, retailers and distributors are also at war with the company, which is transitioning to a super-stockist led model. Recently, the All India Consumer Products Distributors Federation (AICPDF) said that a large unsold inventory of the company, nearing expiry date, was lying with distributors and retailers, causing a financial burden of INR 300 Cr. However, Honasa rubbished the allegations.
Shares of Honasa ended Thursday’s session 0.36% higher at INR 250.10 apiece on the BSE.
