GoKwik Ties Employee Stock Options to Non-Compete Rules; Unacademy Names New CEO
GoKwik has introduced a policy that lets it forfeit employees' vested and unvested ESOPs if they join, advise, or invest in named rivals such as Razorpay, Shiprocket, and CRED, even years after leaving. The rule applies retroactively to earlier grants, which critics say could deter staff from taking roles in the sector. Legal experts note that clawing back earned equity for joining a competitor is rare in India and could face challenges in court. Separately, Unacademy's co-founder Gaurav Munjal is stepping down as CEO two months after upGrad's acquisition, moving to executive chairman to focus on upGrad's IPO. Chief business officer Akhilendra Kumar takes over as CEO amid the edtech firm's struggles with monetization and mounting operational losses.
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