ShareChat’s co-founders Farid Ahsan and Bhanu Pratap Singh step down from their executive positions

As reported by Moneycontrol, Google and Twitter-backed, social media company, Sharechat's co-founders Farid Ahsan and Bhanu Pratap Singh, have stepped down from their executive positions, according to the company's chief executive officer Ankush Sachdeva, who announced the resignations in an internal memo on January 25. This comes after the company let go nearly 600 workers the previous week.

However, both the co-founders will still continue to be a part of the board of the social media company.

Moneycontrol had earlier this week sent inquiries to Sharechat on the two co-founders' decision to step down from day-to-day operations.

Singh had been the chief technology officer up until this point, while Ahsan served as the chief operational officer. Senior Sharechat executives Manohar Singh Charan and Gaurav Bhatia, whose notes were obtained by Moneycontrol, were mentioned by the CEO as taking over the management and engineering duties, respectively, going forward.

"Over the past three months, we have brought on a number of top leaders in Engineering, Finance, HR, and Content Ops," Sachdeva wrote. "Bhanu & Farid have helped these leaders get ramped up and become well-equipped to drive the firm going ahead."