Nazara Technologies Restructures Leadership: Founder Mittersain Steps Down as MD
Indian gaming company Nazara Technologies has announced significant leadership changes. Founder Nitish Mittersain is stepping down as Managing Director, while Caratlane founder Mithun Sacheti takes on a new executive role.
Nazara Technologies, a publicly listed Indian gaming company, announced a substantial leadership reshuffle, with founder Nitish Mittersain stepping down as Managing Director. Mittersain, who founded the company in 1999 and led its public listing in 2021, will transition to the role of "Founder and Non-Executive Director," continuing to offer strategic guidance to the board.
Concurrently, Mithun Sacheti, founder of online jewelry retailer Caratlane and a board member since earlier this year, has been appointed as a whole-time executive director for a five-year term. Sacheti will now oversee strategic initiatives and take on operational responsibilities, bringing what the company described as extensive entrepreneurial, consumer, and brand-building experience.
The leadership changes also include the resignation of Rohit Sharma as Whole-time Director, effective January 1, 2027, to pursue entrepreneurial ventures. Additionally, CFO Rakesh Shah has resigned to explore external opportunities and will be succeeded by Arun Agrawal, former global CFO at Ness Digital Engineering.
These executive shifts occur amidst Nazara's recent strategic moves, including the acquisition of Spanish casual gaming studio Bluetile Games. The company's financial performance, including a revenue decline and net loss in the first quarter, has drawn attention. Furthermore, its esports media arm, NODWIN Gaming, is pursuing an independent listing.