Xiaomi India Chief Business Officer Raghu Reddy Resigns Amidst Increasing Government Scrutiny

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Xiaomi India's chief business officer, Raghu Reddy has put down his papers after a six year stint at the company where he was instrumental in propelling the brand as the number one smartphone and smart TV brand in the country, the company confirmed.

 
Xiaomi India Chief Business Officer Raghu Reddy Resigns

Xiaomi India CBO Resigns to Pursue New Opportunities

Reddy has stepped down to pursue new opportunities outside the company. According to sources, he had put down his papers a month ago, and is currently serving his notice period.

"It has been a privilege to have Raghu as an integral part of the Xiaomi India Leadership team. He has played an influential and significant role in Xiaomi becoming the #1 Smartphone and Smart TV brand in India. We would like to extend thanks from the complete Xiaomi India family to Raghu for his 'can do' spirit, collaborative mindset, and passion for Xiaomi, our Mi fans, and Partners," a Xiaomi India spokesperson said in a statement on Wednesday.

"As he moves on to pursue different growth opportunities externally, we wish him all the best for his journey. Xiaomi India has built a strong leadership team over the years and we will look to strengthen this going forward. As a brand, we will continue to focus on delivering innovation for everyone and democratizing technology for the masses," the statement added.

Instrumental in Xiaomi India's Growth

Reddy started at Xiaomi as the head of online sales, before being elevated as the categories head. As the chief business officer, he was looking after both online and offline sales for the company.

Reddy joined Xiaomi India after a stint at Snapdeal as the senior director of mobiles and tablets, before which he was a senior consultant at Earnst and Young. Reddy routinely took to the stage at Xiaomi's mega launch events to unveil products among raring Mi fans.

 

Xiaomi Under the Scanner

The development comes amidst the company facing intense scrutiny into its operations by the government agencies, in addition to competitive pressure from rivals such as Samsung and Realme. The company's royalty payments have been called under question by the Enforcement Directorate for allegedly parking money abroad illegally. The company, however, has denied any wrongdoing and has taken the ED to court. The judgment on the case has been reserved.

This is the third such high level exit from the company as it came under scrutiny and investigation by the Income Tax department and the Directorate of Enforcement. Prior to this development, Xiaomi India's director of sales, Sunil Baby stepped down to join Unacademy, even as one of the brand's earliest employees Manu Kumar Jain was transitioned to a global role as the vice president of the company, based out of Dubai.

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