Moneycontrol
Last Updated : Aug 01, 2017 05:55 PM IST | Source: Moneycontrol.com

Snapdeal's Vivek Patankar joins as CFO of Travel Food Services

Snapdeal yesterday terminated all talks for a distress sale to its arch rival Flipkart and announced that it wanted to pursue an independent path

Former senior executive of e-commerce firm Snapdeal who quit the firm last month, on Monday joined Travel Food Services (TFS) as its chief financial officer (CFO), the company said in a statement.

"I am thrilled to join Travel Food Services, the leader in F&B across travel retail industry. I hope to leverage my experience to set up world class best practices and partner in scaling up the business," Patankar said in the statement.

Travel Food Services is a part of SSP Group that has operations in 30 countries with a turnover of 2.4 billion pound. It has over 260 outlets across all travel ports including airports, railway stations and highways in all metros and other major cities in India.

Patankar was the senior vice president, business finance at Snapdeal and had been with the company for the last over two years.

He was brought in at a crucial time when the company's then chief financial officer Akash Moondhra had left.

A chartered accountant with a MBA from Jamnalal Bajaj Institute of Management Studies, Patankar was responsible for business partnering, financial planning and procurement.

In the past, Patankar has worked with companies such as Unilever and Marico Limited.

Snapdeal yesterday terminated all talks for a distress sale to its arch rival Flipkart and announced that it wanted to pursue an independent path.

However, it seems that the decision hasn't gone down too well with a few stakeholders. Vani Kola, co-founder of Kalaari Capital who till recently was sitting on the board of the company, has publicly criticised this move.
First Published on Aug 1, 2017 05:55 pm
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