Nazara founder exits MD role as Caratlane exec joins leadership

Nazara Technologies announced today that founder Nitish Mittersain has stepped down as managing director, ending a long tenure in the executive role. A co-founder of Caratlane, who recently joined Nazara’s board, will reportedly take on a larger role within the company.

According to reports, Mittersain will remain on the board and continue as a “key promoter.” Nazara, which operates in gaming and related sectors, has been a publicly traded company for some time, though its market performance has varied in recent periods.

The move may represent an unusual shift for Indian startups, where founders often retain executive control even after going public. Nazara’s board has seen recent additions, including executives with backgrounds in consumer brands and gaming platforms.

While the company has reported revenue growth in its latest fiscal year, its stock has faced challenges relative to peers in the sector. The leadership change comes as Nazara appears to be preparing for new initiatives, though details remain unconfirmed. Observers will watch whether the new leadership can shift investor sentiment ahead of any upcoming announcements.

Sources: inc42.com