Jason Kothari, who was appointed as the president of listed e-commerce company Infibeam Avenues approximately five months back, has reportedly resigned from his position due to personal reasons.
The company stated that Kothari was responsible for heading its strategy, corporate development, international operations, and investor relations functions. He is stepping down as he was “required to spend more time abroad due to personal reasons.”
Along with this, Infibeam also mentioned that Kothari would continue to be associated as a senior advisor. Prior to joining Infibeam, Kothari used to hold the position of chief investment and strategy officer at online marketplace Snapdeal. He played an integral role in not only turning around the troubled venture.
Even before that, Kothari was brought in to effect a change in fortunes at distressed realty portal Housing.com, which, along with Snapdeal, counts Japanese strategic holding company SoftBank Group Corp, as a major stakeholder.
This news has come soon after shares of Infibeam plunged 73% in September, after a WhatsApp message circulating among traders raised concerns about the e-commerce company’s accounting practices.