Micromax today announced that Sanjay Kapoor is stepping down as Chairman of the board. He joined Micromax from Airtel back in June last year. He was the Chief Executive Officer for Airtel India and South Asia from March 2010 till May 2013.
Micromax did not elaborate on why he is leaving the company. In a statement Micromax said “Sanjay Kapoor has decided to move on. Appropriate announcements will be made in due course. We would like to thank him for his contribution and wish him luck for all his future endeavors.” According to reports, his departure is due to differences of opinion with promoters over strategy.
According a recent IDC report, Micromax holds about 17% market share in India in the second quarter of 2015, behind Samsung with 23% market share.