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India’s Snapdeal names new CEO

AceVector Limited has announced leadership changes, appointing Achint Setia as the new chief executive officer of Snapdeal.

Setia, who has nearly two decades of experience, previously served as chief revenue and marketing officer at Zalora Group in Singapore.

His professional background includes roles at Myntra, Viacom18, McKinsey & Co, and Microsoft, where he developed expertise in business development and marketing

Meanwhile, Himanshu Chakrawarti will assume the role of CEO at Stellaro Brands, a subsidiary of the company.

Chakrawarti has managed both Snapdeal and Stellaro Brands for the past three years.

Recent Snapdeal developments

Timeline
26-Jul-2017 💼 Snapdeal board accepts $900m-$950m revised buyout offer from Flipkart: report
  • Snapdeal accepts Flipkart’s $900-950 million offer
  • Deal awaits approval from shareholders after board clearance
29-May-2017 💼 Snapdeal founders, Nexus pump in $17.5m to tide things over
  • Snapdeal raises $17.5M from founders and Nexus.
  • Negotiations for sale to Flipkart continue amidst struggles.
07-Apr-2017 🤝 Snapdeal sale to Flipkart closer, but not a done deal yet: the real story
  • Snapdeal prepares for potential merger with Flipkart.
  • Valuation disagreements delay finalization of deal terms.
04-Apr-2017 📉 Snapdeal reaching end game, sale seems imminent
  • Snapdeal sale discussions with Flipkart, Paytm ongoing.
  • SoftBank negotiating stake purchases amid valuation issues.
22-Feb-2017 📉 Snapdeal’s laying off people, but here’s why it’s a good thing

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