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Madhav Sheth steps down as Realme India CEO

Realme India head Madhav Sheth has reportedly stepped down from his position as the CEO. According to reports, Sheth will be replaced by Michael Gut as the new Realme India head. Apart from being the CEO of Realme India division, Sheth is also the Vice-President at Realme and President of the Realme International Business Group. It is not known yet whether he has quit from other positions as well.

Sheth has not yet confirmed the reports regarding his resignation.

Earlier, an IANS report quoting sources had said that the company is all set to replace India business head Madhav Sheth with a top executive from its China-based headquarters. The report further added that the move, according to industry insiders, does not augur well for the company which cemented its position in a market which is highly competitive at the mass level, with Sheth, as its India business lead, became the sole face of the company within a short span of time.

Sheth, being a veteran in the field, clearly has a command over the local market dynamics — something that the upcoming Chinese executive may not have in his kitty.

Another worry for realme, according to industry insiders, is that a Chinese national at the helm may send negative signals to the Indian government which is already after Chinese-run businesses, especially smartphone vendors, which were allegedly involved in tax evasion running into thousands of crores.

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