Micromax CEO Vineet Taneja quits

Micromax's CEO Vineet Taneja has formally resigned. This is the latest high-profile exit from the domestic smartphone-maker company in one year.

A report in the Economic Times quoted the company spokesperson saying, "Vineet has moved on to pursue other interests. We would like to thank him for his contribution and wish him good luck."

ET adds that the company has not yet revealed if it plans to replace the CEO with someone else.

Before joining Micromax, Taneja was Samsung India's mobile and IT business chief.

The company, based in Gurgaon, is at the second position, trailing after Samsung, in the Indian smartphone market.