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Sridhar Vembu steps down as CEO of Zoho Corp

Entrackr · 1d

Sridhar Vembu steps down as CEO of Zoho Corp Shailesh Kumar Davey, co-founder of Zoho, will take over as the new Group CEO, while another co-founder, Tony Thomas, will lead Zoho US. Sridhar Vembu, the founder and CEO of Zoho Corp, has transitioned from his active role to take on a new position as Chief Scientist, where he will focus on driving deep R&D initiatives. “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,” said Vembu. Shailesh Kumar Davey, co-founder of Zoho, will take over as the new Group CEO, while another co-founder, Tony Thomas, will lead Zoho US. Rajesh Ganesan will head the ManageEngine division, and Mani Vembu will oversee the Zoho.com division. “The future of our company entirely depends on how well we navigate the R&D challenge, and I am looking forward to my new assignment with energy and vigor. I am also very happy to get back to hands-on technical work,” added Vembu. Zoho is one of India’s largest profit-generating SaaS companies, reporting a profit of Rs 2,836 crore in FY23, with revenue growing 29.7% to Rs 8,703.6 crore during the fiscal year. The company has yet to file its annual report for FY24.