Housing.com appoints Rishabh Gupta as interim CEO:
The ex-CEO Rahul Yadav had discharged by the board decision, for his behaviour impact on investors and on the media. After that, online portal Housing.com appointed Rishabh Gupta as a new interim CEO for its company. Many incidents happened with Housing.com from last few weeks and now they finally appointed new Interim CEO declared to Rishabh Gupta.
In the SoftBank-backed portal, Mr Gupta, who is currently Chief Operating Officer (COO) and now has named as interim CEO with instant effect. The company’s operating committee will be joining by Rishabh Gupta, Haresh Chawla and Abhishek Anand (Chief Technical Officer).
The board had commonly agreed to bring Yadav’s ownership to a close, with reference to “his behaviour towards investors, ecosystem and the media.” Housing.com’s board had sacked Yadav with quick effect, saying that his behaviour towards investors and media was not “befitting” of a CEO on July 1.
“The Board believed that his behaviour is not befitting of a CEO and is detrimental to the company, known for its innovative approach to product development, market expansion and brand building,” the statement had said.
Many controversies happened on Mr. Yadav after he questioned the intellectual capability of the board and had put in his papers on May 5. Next, he apologised and withdrew his resignation.
Housing.com had raised USD 90 million through private equity infusion from SoftBank Group along with Falcon Edge and other existing investors in December of the last year. SoftBank has over 30 per cent stake in the company.
Within two years of its founding, the company has expanded from its original rent and resale proposition to include PGs and hostels, serviced apartments, land, plot projects, and new projects.
Housing.com currently has more than 2,551 employees in over 100 cities across India.
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