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This announcement comes amid strategic changes in the technology and data vertical, implemented by managing director and CEO Punit Goenka, a ZEEL statement said.
“The MD & CEO has accepted the resignation of Nitin Mittal,” it added.
“Under the guidance of the Board and in line with the strategic approach undertaken by the MD and CEO, significant steps are being implemented to build a new lateral structure that lays a sharper emphasis on accountability and results,” said ZEEL.
This is the second major exit from ZEEL recently.
Last week Rahul Johri, who was President – Business of ZEEL, and heading revenue and monetisation, resigned after a stint of over three years. Earlier this month, its Chairman R Gopalan in an investor conference said since 2020 ZEEL’s performance has been impacted due to industry-wide macro slowdown, transitory issues, and management bandwidth constraints due to merger activities.
The board has decided to closely monitor the business model and plan presented by the MD & CEO of the company, wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA.
