Rajiv Pancholy has been appointed as the Chief Executive Officer of OnMobile Global effective June 02, 2014, the company has told BSE. Pancholy will be taking over from OnMobile co-founder Mouli Raman who had stepped down as the Managing Director and Chief Executive Officer of the company earlier this month.
Prior to this appointment, Pancholy had founded TTP Media which had secured licenses for three commercial radio stations in Montreal. Before this, he was the CEO and chairman of the Ottawa-based TenXc Wireless Inc. He’s also worked as the president and CEO of Mitec Telecom, a designer and manufacturer of wireless network products.
Pancholy was also the President and Chief Operating Officer of the Canada-based national wireless operator Microcell Connexions Inc, which was the first Canadian carrier to nationally launch commercial high speed wireless data services. It was acquired by Rogers Communications for a reported $1.4 billion in November 2004. He has a total 30 years experience in the telecommunication industry.
He was also an advisor to the Canada government’s Telecom Policy Review Panel for recommendations on Canadian Telecom Policy and has served as an advisor to several venture funds in North America.
Over the past year, OnMobile has witnessed quite a few key resignations and from what sources tell us, is largely a board-run company now:
– OnMobile CFO Rajesh Kunnath resigned in February. Kunnath left to pursue another opportunity, and as per his LinkedIn profile he has returned to Bennett Coleman and Co. Ltd.
– Rentala Chandrashekhar, an Independent director on board at Onmobile, had resigned last month.
– David Fondots, VP and Head of North America operations, had quit the company in March this year. He was replaced by Jacks Sterenfeld last month.
– Sumit Sardana, Senior Director and Head Account Management for Europe had resigned from the company in February
– MV Rajesh, VP, Media had also submitted his resignation.
Also worth noting are some major recent developments:
– Onmobile Global’s primary shareholder Onmobile Systems Inc made an Open Offer of Rs 47.6 Crore For 10% of co, buying stake at Rs 40 per share. Through this, Onmobile Systems Inc acquired an additional 10.16% stake in OnMobile Global, increasing its stake to 43.46%.
– The company is offloading its French arm, VoxMobili SA, to Synchronoss Technologies Inc for $26 million. Onmobile had acquired VoxMobili in 2007 for around $35.12 million. It’s important to note that Synchronoss had filed a lawsuit, alleging that Voxmobili and Onmobile USA LLC had infringed some of its patents. Synchronoss received $3 million as a part of a settlement from Onmobile. In a filing, where this is disclosed, Onmobile mentions that it “may have to pay to Synchronoss, an additional amount of USD 3,000,000, subject however to contingencies and conditions”.