Micromax CEO Vineet Taneja has quit the company to pursue other interests.
Vineet Taneja had earlier worked with Samsung India and at Bharti Airtel before joining Micromax in July 2014.
“Vineet has moved on to pursue other interests. We would like to thank him for his contribution and wish him good luck,” a spokesperson from Micromax said Tuesday.
While the company did not reveal whether the company was looking to hire a replacement but said that its co-founders and senior management was “very well entrenched in to the operations and the business is as usual.”
On being questioned by ET, a company spokesperson said that the “co-founders and senior management was very well entrenched in to the operations and the business is as usual”. In other words, Micromax promoters Rahul Sharma, Rajesh Agarwal, Sumeet Kumar and Vikas Jain who hold less than 80 percent stake in the company are likely to take charge of the day-to-day operations.
Earlier, many senior level executives had quit the company. It is said that Vineet Taneja had clashes with the promoters namely Rahul Sharma, Rajesh Agarwal, Vikas Jai and Sumeet Kumar and could not implement his ideas.
Taneja joined Micromax in July 2014, after heading Samsung India prior to his appointment. He’s also had a brief stint at Bharti Airtel and a long one at Nokia, where he held multiple roles including heading the company’s marketing. Taneja was one of the senior executives, along with Sanjay Kapoor, that Micromax hired in 2014 to have a professional leadership. Micromax is the second largest mobile phone and smartphone brand in India after Samsung and is the largest Indian brand in the country.
Taneja is among the latest top-brass to quit Micromax since last year. It all started with Chairman Sanjay Kapoor stepping down last year over ‘differences with promoters’. Reports say Kapoor was forced to leave the company by its promoters, and he’s current pursuing legal action against the company.