Xiaomi India Friday announced it has elevated Muralikrishnan B to the role of president as the Chinese company continues to face probe over the violation of Foreign Exchange Management Act (FEMA) law by the Enforcement Directorate. As the president, Muralikrishnan will spearhead the company’s strategic projects, including working with the government over the Make in India and Digital India initiatives. He will also be responsible for the company’s day-to-day operations. Also Read – Xiaomi India launches 360-degree Home Security Camera at Rs 2,999: Check features
Before the elevation, Muralikrishnan was serving as the Chief Operating Officer at Xiaomi India. He began his stint in 2018, which makes him best suited for the role of president, especially during crucial times when the Chinese company is facing the probe. “Under Muralikrishnan’s able leadership, the company has witnessed strong growth across categories and has substantially scaled its organisational capabilities, execution machinery and built a solid foundation in the offline retail segment,” Xiaomi India said in a statement.
Muralikrishnan is an alumnus of IIM-Calcutta and has over 25 years of experience in the “consumer tech” domain. He has been instrumental in Xiaomi India’s growth across offline sales, service and operations etc — the results of which propelled the company to sit at the top in India’s smartphone market. Xiaomi has been at the apex position for a long time after it overturned Samsung in India’s smartphone market.
Xiaomi’s India saga
In May, ED seized Xiaomi India’s assets to the tune of more than Rs 5,551 crore for allegedly violating the FEMA law. The agency said the company made royalty payments to the tune of Rs 5,550 crore to foreign accounts since 2016. Xiaomi’s global vice-president and Xiaomi India’s former managing director, Manu Kumar Jain, was questioned pertaining to the incident. During the probe, however, Jain moved to Dubai and the company announced a rejig. Jain is no longer associated with Xiaomi India, at least officially. Xiaomi appointed Alvin Tse as the new general manager of India operations in June and named Poco’s Anuj Sharma as the new chief marketing chief. BGR