The Rahul Yadav-Housing.com controversy took another surprising turn on Wednesday with the Mumbai-based online realty platform removing its co-founder and chief executive from the company with immediate effect. The decision was taken after a board meeting held earlier in the day. It puts an end to weeks of speculation surrounding Yadav’s resignation. Yadav will no longer be an employee of Housing.com and will not be associated with the company in any manner, the company said in a statement.
“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 behaviour 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,” the statement read.
While the search for an interim CEO is underway, a transition plan has been put in place. The current senior executives of the startup will continue to run the operations. While Yadav did not say anything on his removal from the company, in his typical style, he posted his parting words on Facebook. “Board: CEO title of Housing.com. Take that away then what are you? Me: A Genius Billionaire (in INR) Philanthropist.”