Nazara founder Nitish Mittersain to step down as MD
In short
Nazara founder Nitish Mittersain is set to step down as managing director after nearly 27 years. The company will make him a non-executive director, bring in a new CFO and approve a ₹730.78 crore share allotment to five people.
This matters because it signals a leadership reset at Nazara. The report does not say why he is leaving or how the change will affect the company.
What the reporting says
Nazara founder Nitish Mittersain will step down as managing director after nearly 27 years, according to a publisher-supplied summary. The company is also reshuffling its leadership, appointing a new CFO and approving a ₹730.78 crore share allotment to five individuals. The immediate impact on control, strategy and timing is not stated in the available reporting.
Why it matters
Nazara founder Nitish Mittersain will move out of the managing director role after nearly 27 years, based on a publisher-supplied summary. The company is also changing its leadership structure with a new CFO and a ₹730.78 crore share allotment to five individuals. The reporting does not state the reason for the change or the effect on operations, ownership or valuation.