Latest news with #Tahilyani
Time of India
23-05-2025
- Business
- Time of India
Tata Digital CEO Naveen Tahilyani steps down, likely to join Prudential Plc
Tahilyani's role was gradually narrowed as plans emerged to carve out BigBasket and 1mg for separate fundraises and eventual IPOs Naveen Tahilyani , the CEO and MD of Tata Digital has stepped own just after a year of being appointed by Tata Sons chairman N Chandrasekaran to lead the company's digital commerce ambitions. Tahilyani's departure marks the exit of another top level executive. As reported by Economic Times, Hardeep Guru, the chief financial officer of Tata Digital is being considered as the frontrunner for the position. Guru is said to be a close aide of Saurabh Agarwal, Group CEO, Tata Sons. While Tahilyani's exit from Tata Digital was abrupt, reports suggest that he is transiting to Prudential Plc , with Tata Digital undergoing strategic changes. Tata Digital CEO Naveen Tahilyani steps down Tahilyani's exit comes as Tata Sons seeks leadership stability to drive execution and growth across its consumer-facing digital businesses. The Economic Times report indicate that Hardeep Guru, the current CFO of Tata Digital is being considered for the role of CEO. The report also mentions that Tata Sons chairman N Chandrasekaran informed the staff in a town hall meeting about the exit of Tahilyani. Chandrasekaran also informed the CEO's of Taga Digital portfolio companies about the change in the leadership. Tahilyani was tasked with reviving Tata Neu , the group's super app launched in April 2022. Despite a 109% increase in gross merchandise value (GMV) and a user base of 140 million, Neu has struggled with cross-platform traction, contributing to less than 10% of BigBasket and 1mg's gross sales. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like เริ่มแล้ว! ตลาด USDJPY อยู่ในช่วงขาขึ้นกว่าเดิม IC Markets สมัคร Undo His tenure saw backend integration paused to preserve individual brand identities, while Tata Digital explored new revenue streams, including quick commerce under the Flash brand. Tahilyani's departure coincides with Tata Group's plans to raise $1.3 billion for BigBasket and 1mg, signaling a shift toward independent fundraising and IPOs for these businesses. Meanwhile, Tata Digital has renewed its IPL title sponsorship for five years, aiming to strengthen Neu's brand presence and support new initiatives like Flash.
Time of India
22-05-2025
- Business
- Time of India
Naveen Tahilyani is leaving Tata Digital to join Prudential Plc
MUMBAI: Naveen Tahilyani, appointed by chairman N Chandrasekaran to lead Tata Digital over a year and three months ago, is now leaving the company. He will assume the role of regional CEO at Prudential Plc, where he will manage operations in India, Africa, the Philippines, Cambodia, Laos, and Myanmar. Tired of too many ads? go ad free now Tahilyani is set to join Prudential on July 29, focusing on the health business. Prudential, based in the UK, owns a 22% stake in ICICI Prudential Life and a 49% stake in ICICI Prudential Asset Management. In March this year, the company announced a joint venture with the HCL Group to offer health insurance in India. Tahilyani is the second Tata Digital CEO to step down since its founding in 2019. Chandrasekaran brought in Tahilyani from Tata AIA Life Insurance, where he was CEO for over three years. Tata Digital has struggled with losses, posting Rs 1,201 crore in FY24 on Rs 421 crore in revenue. Tahilyani's departure creates new challenges for the company, which was established to help the Tata Group foray into e-commerce. Tata Sons has invested over Rs 18,000 crore to buy firms like BigBasket and 1MG as well as to build Tata Neu, a super-app offering multiple products and services of the Tata Group under one platform.
Mint
22-05-2025
- Business
- Mint
Tata Digital CEO Naveen Tahilyani steps down to join Prudential Plc
Naveen Tahilyani has resigned as chief executive officer and managing director of Tata Digital after a brief one-year stint, following efforts to scale the firm's super-app model that has seen sluggish growth. Tahilyani will join UK-based asset management firm Prudential Plc as the regional CEO for India, Africa, Cambodia, Laos, and Myanmar, with additional responsibility of the health vertical, the firm said in a statement on Thursday. Tahilyani will join Prudential's business and group executive committee on 29 July, reporting to Prudential's CEO Anil Wadhwani, and will be based in India. Tahilyani's departure raises fresh challenges for Tata Digital. Since Tata Digital was founded in 2019, parent Tata Sons, under chairman Natarajan Chandrasekaran, has invested over ₹ 18,000 crore in buying companies like BigBasket and 1MG to build a super-app business. But it has remained a pipe dream. Tata Digital's balance sheet remains far from healthy. In the year ended March 2024, its revenue almost doubled to ₹ 421 crore, while its losses narrowed from ₹ 1,370 crore in FY23 to ₹ 1,201 crore. The CEO's departure comes at a crucial juncture for Tata Digital that has been trying to revive its super-app dreams through Neu, set up in April 2022. It is now banking on quick commerce to take on Swiggy Instamart, Zomato-owned Blinkit and Zepto. The firm has also seen a host of top-level exits in recent years, with the firm's president Mukesh Bansal stepping away from daily operations in early 2023. Tahilyani replaced Pratik Pal as CEO of Tata Digital in February 2024 who served for over five years. Tata Group's ambitious super-app Neu was crucial for the conglomerate as it looked to beat rival firms Adani and Reliance on its digital strategy. Mint reported in 2023 that the super-app is expected to meet just half of the sales target in its debut year, which forced the sprawling Indian corporate to review its digital strategy. Tahilyani was earlier the MD and CEO of Tata AIA for seven years across two separate stints, with a period in between leading AIA's Group Partnership Distribution business across Asia. Prior to his insurance career, he spent 17 years in McKinsey advising banks and insurance companies in Asia. Commenting on Naveen's appointment, Prudential Plc's CEO Anil Wadhwani said, 'Continuing to build our Health pillar, and driving growth across India, Africa, the Philippines, as well as Cambodia, Laos and Myanmar are strategic gamechangers for Prudential. I am confident Naveen is the right leader in the right location to deliver the impact we need.'
Time of India
22-05-2025
- Business
- Time of India
ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm
In a fresh top-deck churn, Tata Digital CEO and MD Naveen Tahilyani has stepped down just a year after being handpicked by Tata Sons Chairman N Chandrasekaran to steady the group's digital commerce ambitions. His abrupt exit underscores the Tata group 's ongoing struggle to stabilise leadership at its much-hyped superapp venture, Tata Neu . Tahilyani, a Tata veteran who was previously CEO of Tata AIA Life Insurance, was tasked with bringing executional rigour, financial discipline, and consumer focus to a fragmented digital portfolio spanning BigBasket, 1mg, Tata Cliq , Tata Croma , and the Neu app. His mandate: fix the superapp's faltering strategy and stitch together the group's digital assets into a cohesive platform. UK-headquartered life insurer Prudential plc on Thursday announced Tahilyani's appointment as regional CEO for India, Africa, the Philippines, Cambodia, Laos and Myanmar, with additional responsibility for the health vertical. Over the past few months, however, Tahilyani's role was gradually narrowed as plans emerged to carve out BigBasket and 1mg for separate fundraises and eventual IPOs. This marked the end of the road for Tata Digital as a unified digital platform seeking external capital—undercutting the very premise of the superapp strategy Tahilyani had brought in to scale. Tata Neu, the group's superapp, launched in April 2022 aimed at consolidating its various consumer-facing digital businesses into one integrated platform. 'There was angst that independent business units like 1mg and BigBasket weren't allowed operational freedom,' said a person familiar with internal discussions. 'Tahilyani began shifting Tata Neu's positioning from a central command to a shared digital platform,' said a person in the know. ' It was clear that Tata Digital as an entity had become less relevant with BigBasket and 1mg in talks to raise independent funding. Plans to go to market to shore up capital as consolidated unit never frutified,' another person close to the matter said on the condition of anonymity. ET reported on April 7 that that the Tata group is preparing to raise $1.3 billion for its digital assets BigBasket and 1mg. Strategy changes, limited traction Under Tahilyani, the group recalibrated focus on core Tata-owned brands such as Croma and Tata Cliq. Backend integration plans across BigBasket, 1mg, and Tata Cliq were put on hold to preserve brand identities and avoid a clunky user experience—an issue that plagued Neu's early rollouts. It accounted for less than 10% of gross sales for BigBasket and 1mg, according to insiders, signalling limited consumer adoption and weak cross-platform synergies. 'There's now a clear view that unless Neu delivers a seamless, value-led experience, it cannot subsume the identities of stronger consumer brands,' one source said. Still, Tahilyani had laid down some groundwork. He was working closely with unit heads to align strategies and had approved 1mg's upcoming offline expansion into standalone pharmacies and diagnostic labs, as reported by ET on May 14. Leadership churn continues Tahilyani's tenure came on the back of continued leadership churn at Tata Digital. Since the exits of Myntra founder Mukesh Bansal in 2022 and multiple senior leaders over the past two years, the company has seen successive overhauls of its top team, including one initiated under Tahilyani himself. Chandrasekaran, who chairs Tata Digital's board, had reportedly grown impatient with Neu's sluggish progress and had hoped Tahilyani would accelerate execution and prepare the business for possible external investment or eventual IPOs of BigBasket and 1mg.'This was always going to be a tough turnaround,' a senior executive said. 'The digital foundation is in place, but scale and traction remain elusive.' The Tata group had renewed its Indian Premier League (IPL) title sponsorship for another five years to boost Neu's visibility, signalling continued investment in its digital play.
Economic Times
22-05-2025
- Business
- Economic Times
ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm
In a fresh top-deck churn, Tata Digital CEO and MD Naveen Tahilyani has stepped down just a year after being handpicked by Tata Sons Chairman N Chandrasekaran to steady the group's digital commerce ambitions. His abrupt exit underscores the Tata group's ongoing struggle to stabilise leadership at its much-hyped superapp venture, Tata Neu. ADVERTISEMENT Tahilyani, a Tata veteran who was previously CEO of Tata AIA Life Insurance, was tasked with bringing executional rigour, financial discipline, and consumer focus to a fragmented digital portfolio spanning BigBasket, 1mg, Tata Cliq, Tata Croma, and the Neu app. His mandate: fix the superapp's faltering strategy and stitch together the group's digital assets into a cohesive platform. UK-headquartered life insurer Prudential plc on Thursday announced Tahilyani's appointment as regional CEO for India, Africa, the Philippines, Cambodia, Laos and Myanmar, with additional responsibility for the health vertical. Over the past few months, however, Tahilyani's role was gradually narrowed as plans emerged to carve out BigBasket and 1mg for separate fundraises and eventual IPOs. This marked the end of the road for Tata Digital as a unified digital platform seeking external capital—undercutting the very premise of the superapp strategy Tahilyani had brought in to scale. Tata Neu, the group's superapp, launched in April 2022 aimed at consolidating its various consumer-facing digital businesses into one integrated platform. 'There was angst that independent business units like 1mg and BigBasket weren't allowed operational freedom,' said a person familiar with internal discussions. 'Tahilyani began shifting Tata Neu's positioning from a central command to a shared digital platform,' said a person in the know. ADVERTISEMENT ' It was clear that Tata Digital as an entity had become less relevant with BigBasket and 1mg in talks to raise independent funding. Plans to go to market to shore up capital as consolidated unit never frutified,' another person close to the matter said on the condition of anonymity. ET reported on April 7 that that the Tata group is preparing to raise $1.3 billion for its digital assets BigBasket and 1mg. Strategy changes, limited traction ADVERTISEMENT Under Tahilyani, the group recalibrated focus on core Tata-owned brands such as Croma and Tata Cliq. Backend integration plans across BigBasket, 1mg, and Tata Cliq were put on hold to preserve brand identities and avoid a clunky user experience—an issue that plagued Neu's early accounted for less than 10% of gross sales for BigBasket and 1mg, according to insiders, signalling limited consumer adoption and weak cross-platform synergies. ADVERTISEMENT 'There's now a clear view that unless Neu delivers a seamless, value-led experience, it cannot subsume the identities of stronger consumer brands,' one source said. Still, Tahilyani had laid down some groundwork. He was working closely with unit heads to align strategies and had approved 1mg's upcoming offline expansion into standalone pharmacies and diagnostic labs, as reported by ET on May 14. ADVERTISEMENT Leadership churn continues Tahilyani's tenure came on the back of continued leadership churn at Tata Digital. Since the exits of Myntra founder Mukesh Bansal in 2022 and multiple senior leaders over the past two years, the company has seen successive overhauls of its top team, including one initiated under Tahilyani himself. Chandrasekaran, who chairs Tata Digital's board, had reportedly grown impatient with Neu's sluggish progress and had hoped Tahilyani would accelerate execution and prepare the business for possible external investment or eventual IPOs of BigBasket and 1mg.'This was always going to be a tough turnaround,' a senior executive said. 'The digital foundation is in place, but scale and traction remain elusive.' The Tata group had renewed its Indian Premier League (IPL) title sponsorship for another five years to boost Neu's visibility, signalling continued investment in its digital play.
