Xavier Kong · · 1 min readZilingo COO resigns from embattled fashion ecommerce firm
Aadi Vaidya, chief operating officer of Singapore-based Zilingo, has confirmed his resignation from the fashion ecommerce startup, Bloomberg reported.
His resignation is the latest in Zilingo’s C-level staff departures. CEO Ankiti Bose was ousted in May after an investigation into the firm’s accounting practices was conducted. Bose also resigned from all directorship roles in Zilingo and its subsidiaries in June.
Meanwhile, CFO Ramesh Bafna exited the company in May to join Indian crypto investing platform CoinSwitch, just months after he started at Zilingo.
These departures leave co-founder and CTO Dhruv Kapoor at the helm, with a share of 8% in the company. In June, he filed a management buyout proposal with Bose.
Zilingo’s troubles started when a fundraising plan for US$200 million from investors raised concerns about the company’s accounting practices.
See also: Zilingo Philippines lays off entire team
Editing by Deepti Sri and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
