New Delhi, February 9 Josh Foulger, head of Zetwerk's electronics business, who was poised to go public through an IPO, has resigned from the company, according to sources.
This is the second high-profile departure from the company within a month, ahead of its planned initial public offering.
"Josh Foulger is no longer with Zetwerk," a source told PTI.
Foulger has left Zetwerk after just two years with the company. He previously headed Foxconn's India business unit, Bharat FIH.
Last month, Zetwerk's chief marketing officer Amrit Raj resigned and joined venture capital firm Jungle Ventures.
When contacted, Foulger requested that Zetwerk provide a comment.
A query sent to Zetwerk did not elicit a response.
Zetwerk has allocated Rs 1,000 crore in investment for expanding its electronic manufacturing capacity in 2024, following Foulger's appointment.
The company is in discussions with bankers and is expected to file draft papers for the IPO soon.
Zetwerk's last disclosed valuation was over USD 3.1 billion, while gross merchandise value has scaled from about USD 100 million to more than USD 2 billion.