Did differences with promoters lead to Sanjay Kapoor’s exit from Micromax?

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Micromax Chairman Sanjay Kapoor has quit the company, just 15 months after he had joined the mobile phone company with a grand vision. The exit, therefore, comes as a big surprise because Kapoor had readied a blueprint for taking Micromax beyond India and beyond just mobile phones.

“Sanjay is a visionary in his own right and has very forward-looking thoughts. His view to focus on digital sales was not shared by the founders, who wanted to continue their efforts on offline sales,” said Sanchit Vir Gogia, Greyhound Research Chief Analyst and CEO.

Albeit this is surely a significant loss for Micromax, the fresh investments from Alibaba will get the company more global muscle and reach to help it continue on its trajectory, he said.

“More importantly, the founders at this stage need to make the right moves to ensure buy-in from new investors.

“Succinctly put, this is a minor bump on the highway that Micromax is currently riding,” he added.

To read the Full Article, click here: The Hindu Business Line

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