Subash Menon, who founded Subex along with his friend Alex Puthenchira in 1992, is now expected to focus on his relatively new entrepreneurial venture Kivor Environ, which is a waste and water management start-up. Kivor Environ has revenues close to R100 crore. He will, however, continue in the capacity of a non-independent director at Subex.
It is believed that Surjeet Singh has been chosen by the board of directors on account of his strong background in finance. Before he joined the board of Subex, Singh was the chief financial officer of Patni Computer before it got merged with iGATE. He also has the experience of being associated with a telecom products company having been a founding member Cymbal Corporation, which was later acquired by Patni.
"After 20 years I wanted to move on, and look at my other business interests. I was waiting for the FCCB restructuring to get completed. I have had my ups and downs, but the network I have built over the last two decades will keep me in good stead in future business ventures," he told FE on Friday. Subex's scrip closed on the BSE on Friday at R13.19, declining 4%.