Micromax Chairman Sanjay Kapoor calls it quits

Indian handset maker Micromax's Chairman Sanjay Kapoor has called it quits, just 15 months after he had joined the company.

Kapoor, a telecom industry veteran, had joined Micromax in June last after the company hit the $1-billion revenue mark.

Micromax didn't elaborate on the reasons for Kapoor leaving.

"Sanjay Kapoor has decided to move on. Appropriate announcements will be made in due course. We would like to thank him for his contribution and wish him luck for his future endeavour", the company said in a statement.

Kapoor's exit could have been triggered due to a disagreement with Micromax promoters on the way forward.

According to media reports in April, Kapoor and the promoters argued over a host of issues, including the channels of retail distribution. Kapoor felt the company needed to adapt to online sales while the promoters argued that 70 per cent of revenue still came from offline, or traditional retail channels.

Additionally while the company's promoters were in favour of Chinese e-commerce firm Alibaba.com taking 25 per cent stake in the company, Kapoor seems to have opposed the idea.