Madhav Sheth, VP realme and President, realme International Business Group, on Friday announced he is accepting a new global role at the company, after sources indicated he may quit as the tech brand is bringing a top Chinese executive to run its India business.
In a tweet, Sheth said: "Exciting news! I'm thrilled to announce that I've accepted a new role as VP for Business and Corporate Strategy (Global). Excited to take this opportunity and contribute to the company's success."
It is still not clear who will run realms India business with Sheth accepting a new global role at the company.
Sources had told IANS that realme is set to make the India announcement as soon as possible, as the domestic smartphone market goes through a churning.
Sheth, being a veteran in the field, clearly has a command over the local market dynamics -- something that the upcoming Chinese executive may not have in his kitty.
Another worry for realme, according to industry insiders, is that a Chinese national at the helm may send negative signals to the Indian government which is already after Chinese-run businesses, especially smartphone vendors, which were allegedly involved in tax evasion running into thousands of crores.
Sheth has been at the forefront of creating consumer products with trendsetting technologies, features and designs in India.