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Master’s decision to resign comes at a time when the Gurgaon-based company is undergoing a massive offline distribution restructuring that has severely impacted its financials.
“He has conveyed his decision to Varun (Alagh)…and is likely to quit soon,” one of the persons cited above said.
Master, who joined Honasa Consumer in August 2021, has earlier had stints at companies such as Airtel and Nokia. He joined the company from job-listing portal Shine, where he was CEO.
Like Honasa Consumer’s founder and CEO Varun Alagh, Master also started his career at Hindustan Unilever.
At Honasa Consumer, Master played a key role in deciding the company’s investment allocations across various categories, channels and the multiple brands that the company owns.
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Apart from Mamaearth, which is Honasa Consumer’s flagship brand, the company owns five other brands – The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and Staze. It discontinued its ayurvedic beauty brand Ayuga in the first quarter of FY25. Honasa Consumer did not respond to ET’s queries at the time of publishing. Master did not respond to messages seeking his comments.
Master’s resignation isn’t the first senior executive exit at the company in recent months. In November 2024, the firm’s chief product and technology officer Jayant Chauhan stepped down.
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