Parth Joshi, the Chief Marketing Officer (CMO) of BharatPe, has resigned from his position to embark on an entrepreneurial journey in the consumer brands sector. Joshi, who joined BharatPe in June 2021, played a pivotal role in the company's marketing strategies and the launch of products such as PostPe and 12% Club.
Professional Background
Before his tenure at BharatPe, Joshi amassed over two decades of experience in the Fast-Moving Consumer Goods (FMCG) industry. His career highlights include:
- Reckitt: Served as Head of Marketing for over five years, managing portfolios including Dettol.
- GlaxoSmithKline (GSK): Managed large brands such as Horlicks.
- L’Oréal: Held significant marketing roles.
Joshi is an alumnus of MDI Gurgaon, class of 2010.
BharatPe's Response
A spokesperson from BharatPe commented on Joshi's departure:
"Parth Joshi has decided to embark on his entrepreneurial journey, and we respect his decision. At BharatPe, we take pride in fostering a culture that nurtures innovation, leadership, and entrepreneurship. We are always supportive of individuals who aspire to create meaningful impact, and we wish Parth the very best in his new endeavor."
Trend of Executive Departures
Joshi's resignation follows a series of high-profile exits from BharatPe, with former executives venturing into new entrepreneurial endeavors. Notable departures include:
- Ankur Jain: Former Chief Product Officer, launched Jivi.ai in the AI healthcare sector in April 2024.
- Rajat Jain, Geetanshu Singla, and Nehul Malhotra: Launched Genwise, a startup that secured funding in April 2023.
- Ashneer Grover and Madhuri Jain: Co-founded Third Unicorn, introducing platforms like CrickPe and ZeroPe.
- Bhavik Koladiya: Joined SaaS startup OTPless as CEO.
- Suhail Sameer: Former CEO of BharatPe, now serving as Managing Partner at OTP Venture.
Data indicates that former BharatPe executives and employees have launched nearly a dozen new ventures, including startups and venture funds, in the past couple of years.
Our Opinion on the News
Parth Joshi's departure underscores a notable trend of entrepreneurial pursuits among BharatPe's leadership. This movement reflects a culture within the company that encourages innovation and leadership. While such transitions can lead to fresh opportunities and industry advancements, they also present challenges for BharatPe in terms of talent retention and continuity. The company's ability to maintain its growth trajectory amidst these changes will be pivotal. For the broader industry, this wave of new ventures may stimulate competition and innovation, particularly in the consumer brands and fintech sectors.