Vineet Taneja, the CEO of Micromax has called it a day. He has resigned from his position after working for the company for two years. The company is yet to announce the name of the executive who will take over Taneja as the company CEO.
In an emailed statement to an Indian publication, a Micromax spokesperson said, "Vineet has moved on to pursue other interests. We would like to thank him for his contribution and wish him good luck."
Micromax has seen quite a number of executive movements in the few months. Last August, its Chairman Sanjay Kapoor had stepped down from his post, following charges of alleged financial irregularities levelled against him by the company.
In January this year, Micromax appointed Vikas Thapar as the Senior VP-Finance. Thapar has the task to lead external relationship developments with key stakeholders including equity partners, investors, bankers and also government authority, including building the company’s asset and revenue base.
Vineet Taneja in his previous capacity has worked with top telecom and handset companies before joining Micromax in July 2014. He was heading the handset business at Samsung India, prior to that he was also associated with Bharti Airtel and Nokia.
Micromax, which is the second biggest mobile handset company in India, has been facing severe competition from Chinese firms like Lenovo,Huawei and Xiaomi. Known for affordable handsets, Micromax recently dived straight into the premium category through its YU sub-brand.