{"id":45609,"date":"2024-05-08T03:04:39","date_gmt":"2024-05-08T03:04:39","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/08\/old-guard-is-out-as-tata-digitals-new-ceo-revamps-deck\/"},"modified":"2024-05-08T03:04:39","modified_gmt":"2024-05-08T03:04:39","slug":"old-guard-is-out-as-tata-digitals-new-ceo-revamps-deck","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/08\/old-guard-is-out-as-tata-digitals-new-ceo-revamps-deck\/","title":{"rendered":"Old guard is out as Tata Digital\u2019s new CEO revamps deck"},"content":{"rendered":"
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Tata Digital<\/a> is witnessing an organisational rehaul in its senior management under new chief executive Naveen Tahilyani<\/a>, with several exits from the old crop that launched the Tata Neu superapp<\/a> two years ago, people aware of the matter said.Modan Saha is moving back to the company\u2019s parent, Tata Sons<\/a>, after leading Tata Digital’s fintech<\/a> business as its CEO<\/a> for two-and-a-half years. Bhanu Pathak, Shoumyan Biswas and Gaurav Porwal \u2014 all senior executives<\/a> hired by former president Mukesh Bansal \u2014 have resigned<\/a> and will leave after serving notice period, which will coincide with the end of the IPL tournament where the Tata Group is the title sponsor. Amit Golia, a senior vice president at the financial service vertical, has left, the people said.<\/p>\n
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Pratik Pal, the erstwhile CEO of Neu, has also moved back to Tata Sons, they said.<\/p>\n

Meanwhile, under the new CEO who took charge three months ago, Tata Digital has shelved plans to onboard non\u2013Tata brands on the Neu<\/a> superapp, people aware of the matter said. Tata Sons chief N Chandrasekaran had said at the launch of Neu that the group would look to bring in non-Tata brands as well to Neu.<\/p>\n

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ETtech<\/span><\/figure>\n<\/div>\n

A spokesperson for Tata Digital did not respond to ET\u2019s request for comment.<\/p>\n

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\u201cEssentially, this is a full clean-up of the old system. Tata Neu has always struggled with senior-level churn, but this marks the end of the original team completely,\u201d a person aware of the changes said.<\/p>\n

\u201cModan is leaving Tata Digital after May 17. Tahilyani himself comes from a financial services background,\u201d another person aware of the matter said.<\/p>\n

Saha, who has been with the Tata Group since 2017, and Golia are members on the board of Tata Fintech, a Tata Digital subsidiary which is looking to build a suite of digital products including a wealth management platform.<\/p>\n

For Tahilyani, a key focus is expected to be the fintech vertical. He had put a tight control on spending in the ecommerce business and introduced greater accountability and sharper data-focused approach to operations<\/a>, ET had reported.<\/p>\n

Several executives had last year raised concerns about stock-option encashing that was linked to Tata Digital\u2019s plans to raise external funds. The group offered incentives as an alternative to the employees as fundraising hasn\u2019t materialised. Tata Sons now plans to invest another $1 billion into the business.<\/p>\n

Neu mantra<\/strong><\/p>\n

Tata Digital had plans to list external brands in travel, food delivery and ride-hailing along with at-home services on the Neu superapp. \u201cAll that\u2019s shelved for now,\u201d a person briefed on the matter said.<\/p>\n

Neu remains a channel for big digital assets like BigBasket and 1mg, this person said. \u201cThe focus is that they (Tatas) should first get the customer experience improved with group brands and then think of external brands. Within the group, integration has not been easy.\u201d<\/p>\n

Tata Digital did not have an ideal start with Neu, launched on April 7, 2022. The company has seen consistent churn in its senior ranks, including the exit of Bansal within a year of joining the firm as its president in June 2021.<\/p>\n

Neu\u2019s contribution, meanwhile, remains less than 10% to the gross sales of egrocer BigBasket and epharmacy 1mg. Tahilyani has held several meetings with the top leadership of Tata Digital, including founders of BigBasket and 1mg, since taking charge in early February, ET has reported.

Fintech focus<\/strong><\/p>\n

A strong presence in fintech is a key piece of building a one-stop consumer internet platform. Tata Digital has been trying to offer a range of fintech products for the past two years. Its co-branded credit card with HDFC Bank got off to a good start <\/a>with the issuance of million-plus units in the first month of launch in August 2022, as reported by ET.<\/p>\n

However, it did not gain much traction with its payment offering Tata Pay, according to sources. Tata Digital\u2019s payment solution remains a laggard among the UPI (Unified Payments Interface) apps. With 250,000 transactions worth Rs 25 crore, TataNeu ranked 46 among 66 UPI apps as of March, showed the National Payment Council of India statistics.<\/p>\n

This is minuscule compared to top players such as PhonePe, Google Pay and PayTM, which recorded 6.5 billion, 5 billion and 1.2 billion transactions, respectively, in March.<\/p>\n

According to people in the know, the financial services division of Tata Digital was also building a wealth management platform that would compete with the likes of Zerodha and Groww. Under Tahilyani\u2019s direction, this has been sidestepped even as the company plans to double down on its successful credit card play. It will also expand its insurance selling business, they said.<\/p>\n

Golia was in charge of the wealth management platform that was under development. The company had launched a content platform for financial information. People cited above said Tahilyani was not in favour of a subscale product and asked them to put a pause on this project.<\/p>\n<\/div>\n


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Tata Digital is witnessing an organisational rehaul in its senior management under new chief executive Naveen Tahilyani, with several exits from the old crop that launched the Tata Neu superapp two years ago, people aware of the matter said.Modan Saha is moving back to the company\u2019s parent, Tata Sons, after leading Tata Digital’s fintech business […]<\/p>\n","protected":false},"author":2,"featured_media":45610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-42031747\/et-logo.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[355,35529,46516,10651,918,7509,29702,46562,34174,46565,46564,46563,6097,27308,6180],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/45609"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=45609"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/45609\/revisions"}],"predecessor-version":[{"id":45611,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/45609\/revisions\/45611"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/45610"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=45609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=45609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=45609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}