Even before launch of its services, Datacom’s high profile CEO Ravi Sharma has resigned. He submitted his resignation papers on Tuesday evening. This is the second major setback for the company in which the two promoters are currently fighting in public over issues related to corporate governance and shareholders’ agreement.
Datacom is promoted by Videocon group and HFCL's Mahendra Mahata family. Videocon is the largest shareholder in the company with 64 per cent shareholding, while Jumbo, a firm by Mahendra Nahata owns the rest.
“Ravi Sharma has resigned due to personal reasons,” said Raj Kumar Dhoot, managing director, Datacom. “However, he will continue to be an advisor.”
“I will be available to the Dhoot family whenever they need my advice,” said Ravi Sharma. He did not say anything about his next move. Dhoot said that his resignation will not have any impact on the roll out plans of the company.