BoAt has rejigged its entire upper management in the run up to the IPO
- BoAt has increased its workforce by 110 employees in the last one year, taking the total tally to 300 people.
- The company has also reduced the roles and responsibilities of the founders in order to tap into their specialisations.
- It has created several new positions over the last year and hired aggressively for existing roles.
AdvertisementConsumer electronics brand BoAt — led by Aman Gupta and Sameer Mehta — has rejigged its upper management in the rup up to its ₹2,000 crore initial public offering (IPO).
In a conversation with Business Insider, BoAt’s chief executive officer (CEO) Vivek Gambhir noted that the company has created several new positions over the last year and hired aggressively for existing roles in order to manage the operations of the company in a much better manner. The company has increased its workforce by 110 employees in the last one year, taking the total tally to 300 people.
Gambhir further elaborated that the company has done well enough to reach ₹1,500 crore in revenue, but it’s now time to plan for the next scale of growth of reaching the ₹5,000-10,000 crore mark. For this, the company has decided to expand its talent base to include people who have already done it before.
“I think, at this stage we have to figure out what’s the right kind of talent that can allow us to think about becoming a ₹5,000-10,000 crore company… So the talent we are bringing in now is honestly to help us prepare for the future while providing strong opportunities for our existing talents,” he added.
|Chief Financial Officer (CFO)||Ankur Sharma||Sushant Dalmia|
|Chief Innovation Officer (CIO)||Shashwat Singh||New Role|
|Chief Business Officer (CBO)||Prejith Narayan||New role. The company has several vertical heads, who will be reporting to the CBO.|
|Head of Manufacturing and Supply Chain||Prashant Kamal||New role, part of this role was managed by cofounder Sameer Mehta.|
|Chief of Customer Experience||Rakshit Gupta||New Position|
|Head of Mergers and Acquisitions (M&A)||Neha Agarwal||New Position|
|Chief Human Resources Officers (CHRO)||Hiring process on||New role. The company currently has two HR representatives for Delhi and Mumbai offices, who will be reporting to CHRO.|
|Head of Wearable Business||Aman Brara||New Position|
|Head of D2C and New Brands||Saurabh Bhandari||New Position|
Besides this, the company has also reduced the roles and responsibilities of the founders in order to tap into their specialisations. Mehta, who was previously managing products and operations, would now only be focusing on the product at BoAt. Gambhir would be managing the operations and leading the company as the CEO. Gupta would be the chief marketing officer, where he will look at building the brand along with scaling the categories for the future, and will lead the new brands.
“The founders have also now become a little bit more specialised and focused on their roles because in the initial phases of any company’s journey founders tend to do everything. But beyond a certain scale what you also want to do is ensure that people are actually focused on their strengths and also become a little more specialised… So the founder's roles have also changed over time,” Gambhir added.
“As we keep on looking at the next wave of growth, we will be looking to add people across multiple functions to be able to grow… We will keep on looking to bring in people to be able to turbo charge our growth,” Gambhir elaborated.
BoAt had filed for its ₹2,000 crore IPO earlier this year, but it has been preparing to go public since the last 12-14 months. Streamlining of processes and operations was a part of this process.
The company began its journey as an audio products company that manufactured earphones, earpods and headphones, but it has expanded its presence in a variety of electronic products — such as fitness wearables, smartwatches, gaming controllers, charging cables, portable battery packs, and other mobile accessories — over the years. It has adopted a digital-first strategy, wherein it largely focuses on online sales rather than offline retail sales.
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