News: Housing.com dissolves investor's board to oversee management

Leadership

Housing.com dissolves investor's board to oversee management

Housing's investors had formed the operating committee on May 5, a week after they rejected Rahul Yadav's resignation from the company.

Bengaluru: Online real estate firm Housing.com has dissolved the operating committee set up by investors to oversee management, a development that comes a week after the appointment of Jason Kothari as chief executive. "The operating committee was constituted to help the company navigate through a difficult management transition, and ensure stability and continuity during that period," said Ritesh Banglani, partner at Helion Ventures and a board member at Housing. The five-member committee, led by SoftBank's Jonathan Bullock, controlled the finances and operations of the company on a weekly basis. 

Housing's investors had formed the operating committee on May 5, a week after they rejected Rahul Yadav's resignation from the company. Two months later, the board fired Yadav from his position as CEO and took full control of the company.

"(Now) the board has complete confidence in the management to independently lead the organisation and has recommended dissolution of the operating committee," said Banglani. The company's board now includes Kothari, Bullock, Banglani, Nexus Venture Partner's Suvir Sujan and Housing's cofounder Abhishek Anand.

 

Read more on The Economic Times here

 

 

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Topics: Leadership, #Corporate

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