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At Third Wave Coffee, founder Sushant Goel transitioned to a board role after former KFC India head Rajat Luthra was roped in as chief executive, effective April 1. "The journey of starting up and getting the company at a certain scale is very different from taking it to the next level," said a venture investor with a global firm. "These changes are ultimately healthy in the sense that these startups are reaching a particular level."
Over a dozen new economy ventures have appointed a new chief executive over the last 12 months, as a greater focus on profitability and governance gains primacy across the sector.
Azhar Iqubal, the co-founder and CEO of online news aggregator InShorts, has transitioned to the role of chairman, while co-founder Deepit Purkayastha assumes the position of CEO. Iqubal expressed excitement for Purkayastha s leadership and the company s future growth. Established in 2013, InShorts delivers daily news highlights in 60 words across various categories.