Nazara founder steps down as MD after 27-year tenure

Nitish Mittersain, founder and managing director of Nazara Technologies, has stepped down from his executive position after leading the company for nearly 27 years. The transition sees Mittersain moving to the role of non-executive director as the gaming and sports media company undertakes a comprehensive leadership restructuring.

The reshuffle coincides with the appointment of a new chief financial officer to the company's senior management team. Nazara, which operates in gaming, esports, and sports media segments, has been expanding its portfolio and market presence across South and Southeast Asia in recent years.

As part of the leadership reorganization, the company's board has approved the allotment of shares worth ₹730.78 crore to five individuals. The specific identities and roles of the beneficiaries were not immediately detailed, though such share allotments typically involve senior management and strategic investors.

The changes reflect evolving governance structures at Nazara as the company continues to scale operations in the competitive digital entertainment and gaming sectors. Mittersain's transition to a non-executive capacity suggests a shift toward institutional governance while maintaining the founder's strategic oversight.