Micromax Appoints Former Samsung Exec Vineet Taneja As Its CEO | TechTree.com

Micromax Appoints Former Samsung Exec Vineet Taneja As Its CEO

The move coincides with Micromax's plans to go global, and investors demands for strong leadership.

 

Homegrown mobile phone manufacturer Micromax has appointed former Samsung mobile chief and ex Bharati Airtel executive Vineet Taneja as its new CEO. The move comes after questions were raised about the company's corporate governance, and it's rumoured to be wanting to fill more than just the CEOs spot.

 

Micromax is also rumoured to be in talks with Sanjay Kapoor, the ex head of Bharati Airtel, to serve the post of Chairman. The company could also be looking at another of senior Bharati executive, Badal Bagri, to take the position of Chief Financial Officer.

 

"We are in discussions with professionals and individuals regarding certain senior management and board positions," said Vikas Jain, co-founder of Micromax, according to an Economic Times report. "However, we can't divulge any names at this point of time and would not like to comment on market speculation on who would be the CFO or chairman."

 

While Micromax is currently run by co-founders Vikas Jain and Rahul Sharma, talks of bringing in industry big shots has been on ever since Sharma and former MD Rajesh Agarwal were arrested for alleged bribery. Agarwal resigned last year, soon followed by the resignation of Deepak Malhotra who held the position of CEO.

 

“Apart from leading the company's growth and profitability, he (Taneja) will spearhead the transformational agenda of Micromax, given the burgeoning opportunity in the devices space globally," said Rahul Sharma, in a statement yesterday.

 

Micromax is currently India's second largest manufacturer of mobile devices, second only to Korean giant Samsung. Over one third of the phones Micromax sells in India are smartphones, and it's looking to expand sales by moving to more locations across the globe. In order to make these dreams true, the company is looking for strong leadership to spearhead the movement.

 

Photo Courtesy: Rediff.com


TAGS: Mobile Phones, Micromax, Vineet Taneja, Samsung India Mobile Head

 
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