CEO of Nazara Technologies Manish Agarwal to step down

• ByStartupStory     |    October 21, 2022

Nazara Technologies’ chief executive officer (CEO), Manish Agarwal, has made the decision to leave his position with immediate effect in order to embark on a business venture. He will remain involved as a board member. 

Nitish Mittersain, the creator of Nazara and the company’s joint managing director, has been promoted to CEO, the company announced in an exchange filing. Since Nazara’s founding in 2000, Nitish and Manish have collaborated closely. 

“Over the past seven years, Manish and I have collaborated closely to establish a solid basis upon which Nazara will expand quickly in the years to come. In his future endeavours, I wish him well,” Nitish stated.

For nearly eight years, Manish led the gaming business as CEO, guiding it to success in the Indian gaming market. Nazara became the first gaming firm in India to choose an IPO when it was publicly listed in 2021. (IPO). 

Manish formerly held executive positions at a number of illustrious businesses, including Reliance Entertainment, UTV, Microsoft, and Rediff.com. 

The gaming company also disclosed Sudhir Kamath’s appointment as the organization’s new chief operating officer (COO), effective as of October 20. Sudhir has over 20 years of experience in operations, operations management, and strategic consulting. Prior to that, he built and expanded the 9stacks gaming brand while serving as CEO of Sparskills Technologies.

In the meantime, Nazara reported that development in its esports, freemium, and ad tech businesses caused its revenue to increase by 104% to Rs 264 crore in the quarter that ended in September compared to the same period previous year. The profit after tax grew slightly from the second quarter of FY 21-22 to Rs 17.3 crore from Rs 15.3 crore.

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