Even as the largest Indian mobile phone brand Micromax is charting out global ambitions, it has been hit with a spate of top level executives.
According to multiple sources, at least three executives have quit the company over the last few weeks following the exit of Sanjay Kapoor as the chairman. This includes Teja Gudena, the Bengaluru-based head of the company's research and development unit.
Others who have left include the two people responsible for sales, Prosenjit Sen and Khaja Muzarafulla. Micromax. Pravin Subba, part of the human resources team at Micromax and Badal Bagri, the Chief Financial Officer could also be on their way out, according to sources in the know. Micromax did not offer any comments.
This comes at a time when Micromax is spreading its wings beyond Indian shores and moving into newer categories.
The company was also in talks with Alibaba for a stake sale in bid to raise funds for the expansion plans. Most of these plans were being spearheaded by Kapoor. But fallout between Kapoor and Micromax founders has forced the former to leave the company, which has put question marks on some of these plans especially the deal with Alibaba. Sources said that the company CEO Vineet Taneja could be the next to go. Taneja was part of Kapoor's leadership team at Airtel. Taneja joined Micromax after Kapoor was appointed as its chairman.
Promoters of Micromax Informatics are in talks with Kapoor to offer 'a fair settlement' package in a bid to address his concerns over his unceremonious exit from the company.
Sanjay Kapoor had been forced out of the job on petty charges of inflated petrol bills. Kapoor has contested the allegations and has threatened legal action. The former chairman holds about 3-5 per cent stake in the company and reckons that his termination was timed to deny him stock options.