BackSubash Menon to focus on his start-up after quitting Subex
Menon says Subex will announce next CEO shortly, but declines to elaborate on potential candidates
Premium(Hemant Mishra/Mint)
Bangalore: Subex Ltd founder Subash Menon, who quit the software product company he founded on Thursday, said he will be focusing on his waste and water management start-up Kivar Environ Pvt. Ltd.
Founded three years ago by Menon, Kivar is already ₹ 100 crore in annual revenues and counts municipal councils in Indian cities, including Raipur, among its top customers.
“I have always been deeply committed but emotionally detached (at Subex). When you run a public-listed company, you can never say it’s yours," he said in a phone interview.
Menon said Subex will announce the next CEO shortly, but declined to elaborate on potential candidates who could take over from him.
“Unlike what it seems from outside, the company is not operationally too dependent on me. I had made my intentions clear reasonably well in advance," Menon added.
Menon said he wad been waiting for the restructuring of Subex’s dollar convertible bonds to be completed. That happened in July this year.
Shares in Subex closed 3.85% lower at ₹ 13.75 on BSE Ltd on Thursday.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
