[Update] BigBasket’s Hari Menon Says No Plans To Hire New CEO

Update | Sept 02, 18:00 IST

BigBasket CEO and cofounder Hari Menon refuted the report that said that the online grocery retailer was looking to hire a new CEO.

In a social media post on LinkedIn, Menon said, “Contrary to some media reports, there are no plans to hire a new CEO for bigbasket, and no formal search process has been initiated for such a role. We are fully focused on maintaining stability, innovation, and growth in the business.”

Menon also clarified that BigBasket’s founding team was not bound by any exit timelines.

“There have been no discussions with the Board about succession planning, and our current leadership structure remains intact,” he added.

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Original | Sept 02, 11:07 IST

Tata Group-owned BigBasket may get a new CEO as the cofounders of the quick commerce player are reportedly in discussions with the conglomerate to step away from day-to-day operations and take up mentorship roles.

CEO and cofounder Hari Menon, whose five-year tenure post the acquisition of BigBasket by Tata Digital in 2021 is nearing its end, has been shortlisting candidates, along with the company’s board, over the past few months to find his successor, Economic Times reported citing sources familiar with the matter.

The report added that a new executive may soon take charge, as the Tata Group looks to bolster its position in the quick commerce market which is currently dominated by Eternal-owned Blinkit, Swiggy Instamart, and Zepto.

“The group is seeking a leader with execution muscle and agility to scale the business further,” a source was quoted as saying.

Inc42 has reached out to Tata Digital for a comment on the development. The story will be updated on receiving a response.

BigBasket was founded in 2011 by Menon, VS Sudhakar, Vipul Parekh, Abhinay Choudhari, and VS Ramesh. Parekh currently leads marketing and finance at BigBasket, while Ramesh leads logistics and supply chain. While Choudhari quit after BigBasket’s acquisition by the Tata Group, Sudhakar moved on from the quick commerce player earlier this year. 

In July, BigBasket appointed former Vini Cosmetics chief financial officer Manish Bajoria as its new CFO. 

The top-level rejig comes at a time when India’s quick commerce segment is growing at a rapid pace. As a result, the competition is also rising in the segment. Amazon and Flipkart are among the new entrants in the space.

As such, BigBasket doesn’t just need to fend off competition from the newer players but also challenge Blinkit, Instamart and Zepto to grow its market share. 

Notably, BigBasket saw its revenue fall in the year ended March 2025 despite the strong growth in the quick commerce sector. Its B2C arm, Innovative Retail Concepts’ turnover dipped 3% YoY to INR 7,673 Cr in FY25. Its net loss also increased 46% to INR 1,851 Cr during the year. 

BigBasket’s B2B unit, Supermarket Grocery Supplies, saw a sharper 7% YoY fall in revenue to INR 2,227 Cr. However, its net loss also declined 20.2% to INR 102.2 Cr in FY25.