Lava MD Sunil Raina, CFO Rajesh Sethi exit amid turnaround

New Delhi: Lava's managing director Sunil Raina and chief financial officer Rajesh Sethi are exiting the smartphone maker, a development that comes at a time when the Noida-based company is witnessing a turnaround.

Raina, who has been with the company for 16 years, will step down by the end of December, according to people familiar with the matter. Sethi is currently serving his notice period. Earlier, chief manufacturing officer Sanjeev Agarwal quit the company to join memory maker Micron.

Raina's resignation comes as Lava looks to fill the gap left behind by Chinese brands in the entry-level segment due to rising prices.


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Raina was appointed managing director of the company in 2023, after Lava co-founder Hari Om Rai was arrested by the Enforcement Directorate in a money-laundering case. Reports suggest Rai may be reinstated as MD following Raina's exit. Lava and Hari Om Rai did not respond to requests for comment.