Micromax chairman Sanjay Kapoor steps down

Chairman of Micromax Mobile Sanjay Kapoor has quit the company merely 15 months after taking up the high-profile job. The company has not offered any reasons for Kapoor's abrupt exit. 

"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.

According to media reports, Kapoor and the promoters had differences of opinion regarding whether to stress on online or offline market for sale of the handsets. There are also reports that Kapoor was against the idea of Alibaba picking up stake in the Indian company.

Kapoor, a telecom industry veteran was previously with Bharti Airtel as chief executive for India and South Asia. He was roped in to raise the global profile of Micromax.