Lava executives Sunil Raina and Rajesh Sethi to depart

Noida-based smartphone manufacturer Lava is undergoing a significant leadership transition following the resignations of Managing Director Sunil Raina and Chief Financial Officer Rajesh Sethi. Raina, who led the company for 16 years and took the helm in 2023, is expected to step down by the end of December. Sethi is currently serving his notice period.

These departures follow the recent exit of Chief Manufacturing Officer Sanjeev Agarwal, who joined Micron Technology. The leadership changes occur as Lava attempts to capitalize on the entry-level smartphone market, specifically targeting the sub-Rs 20,000 category. This segment has seen increased opportunity as Chinese competitors shift focus toward mid-to-premium handsets due to rising component and chip costs.

Reports suggest that co-founder Hari Om Rai, who previously stepped down following an investigation by the Enforcement Directorate, may be reinstated as Managing Director. The company is also reportedly seeking fresh capital to strengthen its market position and support its business revival.