Reports of Realme India head Madhav Sheth had surfaced earlier this week. According to an ET Telecom report, Sheth has stepped down from the company’s India division’s apex role. The report did not reveal whether Sheth is still a part of the organisation or who would replace him as the new Realme India head. Putting any possible rumours and speculations to rest, Sheth has confirmed that he is still a part of Realme. The former Realme India head revealed that he has now been promoted to a Vice President (VP) role at Realme Global.
Sheth took to Twitter to share details about his new role. “Exciting news! I’m thrilled to announce that I’ve accepted a new role as VP for Business and Corporate Strategy (Global). Excited to take this opportunity and contribute to company’s success,” he said.
Realme India to Get New CEO?
Realme India might get a new CEO soon now that the company’s former top chief has moved to a bigger role for the global division. Sheth confirmed that he will be the VP for Business and Corporate Strategy for Realme’s global division.
The confirmation confirms a day after reports of his exit from Realme India surfaced on the web. While the report was technically valid, Sheth’s announcement confirms that he is still a part of the company.
Exciting news! I’m thrilled to announce that I’ve accepted a new role as VP for Business and Corporate Strategy (Global). Excited to take this opportunity and contribute to company’s success.
— Madhav Sheth (@MadhavSheth1) March 24, 2023
Sheth is known to have played an instrumental role in Realme’s success in India. Since the company’s inception in May 2018, Realme has seen massive growth over the years under Sheth’s leadership in India. The company surpassed Samsung in October 2021 to become the second-largest smartphone brand in India with a market share of 18 per cent. While Samsung soon regained the position, Realme continued to be among the fastest growing brands in India. As the company progressed, Sheth was appointed with several roles at Realme. He was also a part of the company’s senior operations in Europe and some other markets. The company was among the fastest to break into the top-five smartphone brands in global markets. It also shipped over 100 million smartphones in three years since the launch of the first phone, the Realme 1.
Now that Sheth has moved to a bigger role, it remains to be seen who replaces him as the new CEO for Realme India. According to the ET Telecom report, Michael Guo from the company’s China team will join as the new India CEO. However, Realme has reportedly denied the rumours of Guo’s appointment as the new Realme India CEO. The company is expected to share some more details about the same very soon.
