Ex-OYO CFO Abhishek Gupta Appointed as Lenskart's New Finance Chief

Abhishek Gupta, the former Chief Financial Officer (CFO) of hospitality startup OYO, has transitioned into a new role at eyewear brand Lenskart, assuming the position of CFO. Gupta, who spent nearly a decade at OYO, played a significant role in shaping the company's financial strategy and overseeing key developments during its rapid expansion. His move to Lenskart signifies an important shift in his career as he takes on the financial leadership role at one of India's leading eyewear companies.

Gupta officially announced his new position at Lenskart on October 22 through a LinkedIn post. In his statement, he expressed gratitude to OYO's founder, Ritesh Agarwal, and his former colleagues for their trust and friendship over the years. Reflecting on his time at OYO, Gupta mentioned the invaluable experiences he gained and the strong relationships he built during his tenure at the company.

"After nine amazing years at OYO, I have recently joined Lenskart as the CFO. Thank you Ritesh (OYO founder) and the entire team of OYO for the trust and friendship," Gupta shared on his LinkedIn profile, announcing his move.

Transition at Lenskart: Gupta Replaces Mukti Hariharan

Abhishek Gupta’s appointment as CFO at Lenskart comes after the company's former finance chief, Mukti Hariharan, stepped down from her role earlier this year. Hariharan, who had been with Lenskart for an impressive tenure, decided to move on to new opportunities, taking up a role at Coca-Cola. This change in leadership created an opportunity for Gupta to step in and bring his financial expertise and industry experience to the growing eyewear business.

In a heartfelt farewell post, Hariharan reflected on her journey with Lenskart and praised the exceptional team she had the chance to work with. She expressed pride in the company's achievements and highlighted the high-performing team she had led during her time there.

"Last week marked my final days at Lenskart, and what an incredible journey it has been. I’m excited for the future of the business, and I feel immense pride in the high-performance team I had the opportunity to build and lead. Working alongside Peyush Bansal, Neha Bansal, Amit Chaudhary, Ramneek Khurana, Shweta Shukla, and Ashwani Agarwal has been an absolute privilege. Their passion, drive, and unwavering commitment made this journey truly remarkable," Hariharan said in her farewell message.

Gupta’s New Role at Lenskart: Focus on Strategic Planning and Governance

Gupta officially joined Lenskart in August, a few months after leaving his role at OYO. According to his updates on LinkedIn, his responsibilities as CFO at Lenskart include driving long-term financial strategy and execution, while also focusing on strengthening corporate governance within the company.

In this capacity, Gupta is expected to play a crucial role in ensuring that Lenskart's financial management aligns with its business goals, while also improving overall corporate governance practices. His extensive experience in managing the financial operations of a rapidly growing startup like OYO will be invaluable as Lenskart continues to expand its footprint in the eyewear industry.

Gupta acknowledged the challenges and opportunities that lie ahead in his new role, particularly as he focuses on supporting Lenskart’s ambitions for growth and innovation. His efforts will likely revolve around creating strategies for financial efficiency, overseeing risk management, and providing direction on critical decisions related to mergers, acquisitions, and future investments.

"In addition to providing direction for long-term strategic planning and execution, I am in charge of driving the financial strategy with a strong focus on strengthening the corporate governance mandate at Lenskart," Gupta mentioned in his LinkedIn update.

OYO’s Transition: Rakesh Kumar Takes Over as Group CFO

Gupta’s departure from OYO was announced in December 2023, marking the end of his nearly decade-long tenure with the company. During his time at OYO, Gupta was instrumental in shaping the financial roadmap of the startup, which became one of the most recognized names in the hospitality industry. Under his financial leadership, OYO scaled significantly, navigating multiple rounds of fundraising, global expansions, and various operational challenges.

With OYO's plans to eventually list on the stock exchanges, Gupta’s exit marked a significant leadership transition. To ensure continuity, the company promoted Rakesh Kumar, a long-standing member of OYO’s finance team, as its new Group CFO. Kumar, who had been with the company for over six years, was seen as a natural successor to Gupta, given his deep understanding of OYO’s financial framework and strategic direction.

OYO announced Gupta’s departure publicly, expressing gratitude for his contributions to the company. The internal promotion of Kumar reflects OYO's commitment to fostering leadership from within and maintaining a seamless transition in its finance division.

A New Chapter for Lenskart and Gupta

Abhishek Gupta’s move to Lenskart represents a new chapter for both the finance veteran and the eyewear company. Lenskart has been on a rapid growth trajectory, expanding its presence both in India and internationally. The company, co-founded by Peyush Bansal, has revolutionized the eyewear industry with its unique combination of online and offline retail channels, coupled with cutting-edge technology and design innovation.

Gupta’s arrival as CFO is expected to provide the financial acumen and leadership necessary to support Lenskart’s continued growth. His focus on strategic planning, corporate governance, and financial discipline will be key to the company’s success as it explores new opportunities and strengthens its market position.

In conclusion,

As Abhishek Gupta takes the reins as CFO of Lenskart, he brings with him a wealth of experience and a proven track record in managing the finances of a high-growth company like OYO. His leadership is set to play a critical role in guiding Lenskart’s financial strategy and ensuring its continued success in the competitive eyewear market.