In a surprise move, Neelam Jethani, the company secretary and compliance officer of FirstCry, has tendered her resignation, effective March 15, 2025. This development comes on the heels of FirstCry's parent company, Brainbees Solutions, facing significant challenges, including a recent stock price slump and the closure of underperforming stores
FirstCry, an omnichannel retailer specializing in baby and mother care products, has been navigating turbulent waters. The company recently announced its Q3 FY25 earnings, revealing a 14.3% increase in revenue to Rs 2,172 crore, alongside a notable reduction in losses by 69% to Rs 14.7 crore. However, this positive financial news was overshadowed by the decision to close 38 company-owned stores due to poor performance, which sent the company's stock into a downward spiral.
Jethani has been an integral part of FirstCry for over two years, serving as the company secretary and compliance officer. Prior to joining FirstCry, she held roles at Schaeffler and Persistent Systems, bringing a wealth of experience in corporate governance and compliance
In an exchange filing, FirstCry stated that Jethani is resigning to pursue "new avenues for professional growth". This move suggests that she is seeking fresh challenges and opportunities beyond her current role.
Jethani's resignation comes at a critical time for FirstCry. As the company navigates its current challenges, her departure may lead to a temporary void in compliance and governance. However, FirstCry's leadership has shown resilience in addressing operational challenges, and it is likely that they will swiftly fill this position to maintain continuity.
