Sify management jumping ship

The Economic Times is reporting on rumours that Sify's top tier management executives are all set to make a hasty exit from the company.

NASDAQ-listed Sify, one of India’s leading internet, network and e-commerce providers, is staring at a management crisis with the top brass set for a sudden exit. Sources said the company’s managing director and CEO R Ramaraj and a group of top honchos have put in their papers amidst talks about growing strife with the new promoters, US-based private equity firm Infinity Capital Ventures.

Sources told ET that 20-25 top executives could be on their way out. Some of them, including Mr Ramaraj, have already put in their papers, they added. Incidentally, the move comes barely 24 hours ahead of Sify’s first quarter results and an investor conference to be addressed by Mr Ramaraj.

Source: Economic Times.