Resignation of CEO Rahul Yadav and differences between promoters and investors likely to result in more turmoil
UPDATE: A few days after he stepped down as the chief executive of realty portal Housing.com, Rahul Yadav has withdrawn his resignation today and apologised for the unceremonious comments he made about the company’s investors and board members in his resignation letter on April 30.
In his resignation letter, Yadav had said, “"I don't think you guys are intellectually capable enough to have any sensible discussion anymore.” His resignation was accepted by the board. On Tuesday evening, the company issued a statement that said the board of Housing met and has been reconstituted to include all main shareholder representatives. “After some good conversations the board has reaffirmed its faith in Rahul Yadav's vision at Housing,” the company said in the statement. "After some frank and healthy discussions with the Board I have agreed to withdraw my resignation and I apologise for my unacceptable comments about the board members,” said Yadav in the statement. “I look forward to staying on at Housing as CEO and building an even greater company, while working in full harmony with the board.”*** Handle them carefully, for words have more power than atom bombs, said Pearl Strachan Hurd, a British politician in the 1930s. Hurd said this nearly 80 years ago, but there is at least one young company in India that is feeling the impact of such a ‘bomb’. Worse, it has been triggered by the company's own co-founder, leading to a chain reaction from others, including investors.