Sanjay Kapoor, Chairman of Micromax resigns, reason for resignation unknown

By August 29th, 2015 AT 6:43 PM

Shedding light into the internal turmoil of top management in telecom companies, Sanjay Kapoor, Chairman, Micromax Informatics Ltd has resigned from his post yesterday. It has been a little more than a year he joined.

Sanjay Kapoor
Sanjay Kapoor

The company has not revealed the reason for his resignation and also, the further plans of Sanjay Kapoor remains unknown. Kapoor was responsible for the expansion of company to international front and was helping in raising funds to diversify the company into other businesses.

Kapoor also maintained a stake in the company, the share of which is unknown. The four founders of Micromax – Rahul Sharma, Rajesh Agarwal, Sumeet Kumar and Vikas Jain—own nearly 80 percent of the company.

Sources say that there were difference of opinions existing between the founders and Kapoor, on matters like pricing of the products, valuation of company for the purpose of fund raising, online retailing etc.

Kapoor was the former CEO of Bharti Airtel and is known for his contribution to make Airtel from a traditional voice provider to data service provider.

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