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Sridhar Vembu, the founder of Zoho Corp, has stepped down as CEO of the software company.
Vembu announced on social media platform X that he will focus on research and development as the company's 'chief scientist.'
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Vembu has appointed the company’s co-founder, Shailesh Kumar Davey as the new CEO.
Vembu said on X, “In view of the various challenges and opportunities facing us, including recent major developments in AI, it has been decided that it is best that I should focus full time on R&D initiatives, along with pursuing my personal rural development mission."
“Our co-founder Shailesh Kumar Davey will serve as our new group CEO. Our co-founder Tony Thomas will lead Zoho US,” he added.
Vembu said that this restructuring is a strategic move to help the company address important technological challenges while staying competitive.
This new structure will split Zoho’s leadership across its main business areas. Co-founder Tony Thomas will manage Zoho’s US operations, Rajesh Ganesan will lead the ManageEngine division, and Mani Vembu will oversee the Zoho.com division.
The Chennai-based Zoho reported a total revenue of Rs 8,703 crore in the financial year 2023 (FY23), which is nearly a 30% increase from the previous year. The company mainly earned revenue by selling its own enterprise IT management software and business application software, including ManageEngine and Zoho.
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