Nazara Technologies CEO Manish Agarwal Resigns; To Pursue Entrepreneurship

Nazara Technologies on Thursday announced that its CEO Manish Agarwal is stepping down from his position effective 1 December 2022.

The resignation comes to light as Agarwal decides to take on an entrepreneurial journey. He will remain associated with Nazara Technologies as a nominee on the boards of material subsidiaries.

The role of the CEO will be now taken on by Nitish Mittersain, founder and joint MD at Nazara Technologies. In a statement, he said, “Manish and I have worked closely together over the last seven years to build a strong foundation on which Nazara will continue to grow rapidly in the years to come. I wish him all the best in his future endeavors.”

Under Manish Agarwal’s leadership, Nazara Technologies left a significant mark in the Indian gaming ecosystem and also got publicly listed in 2021.

Nazara also announced the appointment of Sudhir Kamath as the chief operating officer (COO), who will be joining the company’s leadership from 20 October 2022. An alumnus of Delhi University and IIM Ahmedabad, Sudhir has over 20 years of experience in strategy consulting, private equity investing, operations and entrepreneurship.

In its Q2 FY23 results, Nazara Technologies reported its revenue to have increased by 104 per cent to Rs Rs 263.8 crore as against Rs 129.6 crore in Q2FY22. Its EBITDA stood at Rs 21.3 crore as against Rs 19.5 crore in Q2FY22.