The Economic Times is reporting that Arvind Rao, managing director and CEO of India’s OnMobile, has resigned after what the company called a “special review of its corporate governance procedures.” Rao stepped down because the corporate governance weaknesses were identified during his tenure. Co-founder Mouli Raman has agreed to take on the duties of interim managing director. At the same time, the Times adds, “the company has also started the search for a new CEO.” OnMobile, which was incubated at Infosys, ranks as India’s top mobile value-added services provider.
OnMobile CEO resigns due to corporate governance issues
OnMobile CEO and Managing Director Arvind Rao resigned after a company review of its corporate governance procedures.
July 10, 2012