Highlights
Sridhar Vembu Transitions to Chief Scientist Role at Zoho Corp
Sridhar Vembu, the founder and CEO of Zoho Corp, has transitioned from his active leadership position to a newly established role as Chief Scientist. In this capacity, he will concentrate on advancing significant research and development initiatives.
Vembu articulated that the decision was influenced by various challenges and opportunities, particularly in relation to recent significant advancements in artificial intelligence. He expressed the intent to dedicate his efforts entirely to R&D initiatives and his personal mission of rural development.
Leadership Changes at Zoho
In this organisational reshuffle, Shailesh Kumar Davey, another co-founder, will take over the role of Group CEO. Meanwhile, fellow co-founder Tony Thomas will manage operations at Zoho’s US division. Rajesh Ganesan will lead the ManageEngine division, and Mani Vembu has been assigned to oversee the Zoho.com division.
Vembu stated that the company’s future is heavily reliant on effectively addressing the R&D challenge. He expressed enthusiasm for his new role, stating he anticipates returning to hands-on technical work with energy and commitment.
Zoho’s Financial Performance
Zoho is among the largest profit-generating SaaS companies in India, reporting a profit of Rs 2,836 crore in FY23. The company experienced revenue growth of 29.7%, reaching Rs 8,703.6 crore during the fiscal year. However, the annual report for FY24 has not yet been filed.
Changes at Freshworks
In related news, Girish Mathrubootham, the founder of Freshworks, a competitor of Zoho, has also stepped down as the chief executive officer after 14 years. Mathrubootham will now serve as the executive chairman, while Dennis Woodside, the company’s president, has been appointed as the new CEO.