Rahul Yadav & Housing.com Saga has come to a close! Online and offline media have been buzzing with Rahul Yadav antics for over 4 months now and finally those antics have led to his ouster.
The ET story published couple of days earlier had mentioned that after the ouster, he may remain in housing and look after product development, however, the official statement given by the company says that “ Rahul Yadav will no longer be an employee of Housing and be associated with the company in any manner, going forward!” . The Housing board was unanimous in their decision.
Here is the official statement from Housing
Mumbai based online realty platform, Housing.com, (Housing) has released its CEO Rahul Yadav, with immediate effect, after a regular board meeting, held earlier today. Yadav who is also the co-founder of the company, will no longer be an employee of Housing and be associated with the company in any manner, going forward.
The Housing Board, unanimously agreed to bring Yadav’s tenure to a close, with reference to his behaviour towards investors, ecosystem and the media. The Board believed that his behavior is not befitting of a CEO and is detrimental to the company, known for its innovative approach to product development, market expansion and brand building.
While the search for an interim CEO is underway, a transition plan has been put in place, The current senior executives of Housing will continue to run the operations on a daily basis, and ensure its continued smooth functioning. The Board and the Operating Committee will remain closely involved with all key decisions.
The Housing Board, investors, management team and employees are keen to see Housing maximize its huge potential in India and beyond, as well as run in professional and world class manner. This is part of their larger commitment to India and the start-up ecosystem, which together remains unaffected and as strong as ever.
There has been no word by the board in regards to the rumours of classifieds portal Quikr acquiring Housing. According to Economic Times, it was not discussed in the board meeting.
Even after the ouster, Rahul Yadav seems to be quite defiant. Here is what he posted on Facebook, probably after he was fired!