Videocon Consumer Electronics Biz COO Quits
Kolkata: The chief operating officer of Videocon’s consumer electronics business, CM Singh, has put in his papers in the midst of a debt crisis facing the group.
Singh, who had earlier worked in senior roles at LG and TCL, plans to start a consumer electronics retail venture, which will aggregate dealers in tier-II and III markets and upgrade them to organise the business so that they can sell premium products and also consolidate their back-end through common sourcing.
His departure may be the tipping point for more such midto-senior level exits in the largest domestic whitegoods maker since he had a team of seasoned professionals that moves with him, two senior industry executives said. Videocon chairman Venugopal Dhoot confirmed Singh’s exit but said he will continue as an adviser to the new generation of family members who are engaged in the electronics business. “Mr CM Singh has for the last two years expressed his wish to start his own retail business, and Videocon will support his business,” he said.