Video­con Con­sumer Elec­tron­ics Biz COO Quits

The Economic Times - - Economy: Macro, Micro & More - Wri­tankar.Mukherjee @times­group.com

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.

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