IPO- bound manufacturing unicorn Zetwerk's electronics business head Josh Foulger has resigned from the company, according to sources.
This is the second high profile exit from the company within a month ahead of its planned initial public offer.
"Josh Foulger is no longer with Zetwerk," a source told PTI.
3 February 2026
Get the latest issue of Outlook Business
Foulger has exited Zetwerk within two years of joining the company. He previously headed Foxconn’s India business unit, Bharat FIH.
Last month Zetwerk chief marketing officer Amrit Raj resigned from the company and joined venture capital firm Jungle Ventures.
When contacted, Zetwerk Spokesperson said, "Josh Foulger has been instrumental in shaping Zetwerk Electronics during its early and growth stages. As he has decided to move back to Chennai for personal reasons, we thank him for his contribution and wish him the very best for his future endeavours.” Zetwerk has earmarked Rs 1,000 crore investment for expanding its electronic manufacturing capacity in 2024 after Foulger took over the role.
The company is in discussion with bankers and expected to file draft papers for the IPO soon.
Zetwerk's last disclosed valuation was over USD 3.1 billion, while gross merchandise value scaled from about USD 100 million to more than USD 2 billion.
