Nazara Technologies’ board reshuffle: Mithun Sacheti becomes Executive Director, Nitish Mittersain becomes Founder and Non-Executive Director

Nazara Technologies Limited has told the exchanges that its board, at a meeting on 12 Oct 2026, approved a set of leadership changes. Mr. Mithun Padam Sacheti is re-designated from Non-Executive Director to Whole-time Director and Key Managerial Personnel, as Executive Director, with effect from 12 Oct 2026, subject to shareholders’ approval. He will oversee strategic initiatives and any operational responsibilities the board assigns him.

The board took note of the resignation of Mr. Rohit Sharma as Whole-time Director with effect from the close of business on 11 Jan 2027, saying that he cannot devote the time the role needs and has decided to step down. It also approved re-designating Mr. Nitish Mittersain, who founded the company in 1999, from Managing Director to Founder and Non-Executive Director from the close of business on 12 Oct 2026, subject to shareholders’ approval, so that he provides strategic guidance while the professional leadership team runs the company.

The board accepted the resignation of Mr. Rakesh Shah as Chief Financial Officer from the close of business on 15 Oct 2026, to pursue an opportunity outside the company, and he will help with the transition for 90 days. On the recommendation of its committee, it approved the appointment of Mr. Arun Agrawal as Chief Financial Officer and Key Managerial Personnel from 16 Oct 2026. The same meeting approved a share allotment and an overseas investment, covered in a separate article.

Inference

Several top roles change at once: the founder moves from an executive to a non-executive position, one whole-time director is leaving in January 2027, a non-executive director becomes an executive one, and the finance chief is replaced within four days.

The re-designations need shareholders’ approval, which the filing says is still to be obtained. The filing does not name a new Managing Director.