Nykaa appoints P Ganesh as CFO

FSN E-Commerce Ventures Private Limited, the parent company of beauty retailer Nykaa, has appointed P Ganesh as the chief financial officer and key managerial personnel of the company with effect from February 3.

Ganesh is currently the CFO of TAFE Group. Prior to TAFE, he has held leadership positions in India and overseas at Godrej Group, Glenmark Pharma, and Pidilite.

"His knowledge about the Indian financial market and insights into international markets will be valuable in guiding Nykaa’s journey as a leader in beauty and lifestyle omnichannel retail,” said Falguni Nayar, Founder and CEO, Nykaa, in a statement.

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“I look forward to leveraging my expertise and contribute to what I believe is an exciting phase in the Nykaa journey as it continues to grow and scale its businesses," said Ganesh.

In November last year, Arvind Agarwal had stepped down at the CFO of Nykaa, shortly after the lock-in period for the company’s pre-IPO investors and a controversial listing of bonus shares.

The beauty retailer posted a consolidated net profit of Rs 5.2 crore for the second quarter of FY23, ending September 30, 2022, at a marginal increase over the previous quarter.