Robinhood's Chief Product Officer Aparna Chennapragada Steps Down

Fazzaco learned that Trading app Robinhood has lost chief product officer Aparna Chennapragada following its announcement to lay off nearly a quarter of staff.​

Aparna joined Robinhood as its Chief Product Officer one year ago and will "continue to stay on as an advisor to the CEO Vlad Tenev to ensure a good transition after resignation", according to her post in Twitter.

Before her career at Robinhood, Aparna spent almost 13 years at Google where she held many senior management positions from Product Manager to Vice President and will stay on in an advisory role until the beginning of next year. Prior to that, she served as Architect at Akamai Technologies, the world's first internet content delivery network, for 9 years.

Additionally, Aparna has been Board Member at American financial services giant Capital One, from 2018.

"I was drawn to Robinhood for its potential to democratize finance for all. And for the personal challenge of expanding the company beyond trading into a broad set of products and services that can make money work better for everyone. We made inroads toward this vision through products in spending, retirement and long term investing," Aparna said in a tweet-thread.

Last week, Robinhood posted its financial metrics for the second quarter ended June 30, 2022​​, showing 6% increase in net revenues from last quarter, but a 44% fall in revenues compared to the same period in 2021 for declining monthly active users and assets under custody.

Aparna's quit also came as the company is moving to a general manager structure in order to "flatten hierarchies, reduce cross-functional dependencies, and remove redundant roles and positions".