In a surprising move, Sudhir Kamath, the Chief Operating Officer (COO) of gaming giant Nazara Technologies, has announced his resignation. Kamath will step down effective April 1, 2025,
In a surprising move, Sudhir Kamath, the Chief Operating Officer (COO) of gaming giant Nazara Technologies, has announced his resignation. Kamath will step down effective April 1, 2025, citing a desire to relocate to Delhi and spend more time with his family. His decision comes after two-and-a-half years of leading the company during a transformative period. As Nazara continues its efforts to expand and streamline its operations, Kamath’s departure marks the end of a significant chapter for the Mumbai-based firm.
Sudhir Kamath’s resignation, effective from April 1, 2025, marks the conclusion of his impactful two-and-a-half-year tenure at Nazara Technologies. Known for its diverse gaming offerings, including esports, early learning, and casual gaming through popular brands like NODWIN Gaming, Sportskeeda, and Kiddopia, Nazara is going through a critical phase of strategic changes.
Kamath joined Nazara at a pivotal time for the company, right as it was navigating a leadership transition. His departure comes at a time when the company is consolidating its offerings, raising capital for acquisitions, and restructuring its portfolio for growth.
Kamath’s career at Nazara started when the company was in the midst of leadership changes. In October 2022, the resignation of former CEO Manish Agarwal led to the return of Nazara’s founder Nitish Mittersain to the CEO position. Kamath’s role as COO played a critical part in leading the company through this transition and helping it solidify its position in the gaming market.
Before joining Nazara, Kamath was no stranger to the world of business and startups. He co-founded the online poker platform 9Stacks and held senior positions at prestigious organizations like McKinsey & Company, Sun Group Private Equity, and Suntera Energy. His expertise in both strategic management and operations made him a valuable asset to Nazara during its dynamic period of growth.
In his resignation letter, Kamath expressed his gratitude for the opportunity to work with the company and for the invaluable experiences he gained during his time there. He wrote, “The last two and a half years have been a great experience for me.” However, his decision to step down was motivated by personal reasons, specifically to be closer to his family in Delhi.
Kamath has assured the company that he will ensure a smooth transition and an orderly transfer of responsibilities to his colleagues. This thoughtful approach indicates that the COO is dedicated to leaving the company on solid footing, despite his decision to move on.
Kamath’s departure is happening during a key phase for Nazara Technologies, which has been actively restructuring its portfolio and pursuing strategic acquisitions. The company recently made headlines by selling a 94.85% stake in OpenPlay Technologies, the operator behind the Classic Rummy platform, to Moonshine Technologies, the parent company of PokerBaazi. This deal, valued at Rs 104.3 crore in a share swap agreement, marks a significant shift in Nazara’s focus as it continues to streamline its operations.
Earlier, in January 2024, Nazara had raised Rs 495 crore through a preferential equity issue. This was followed by an even larger funding round in November 2024, where the company secured Rs 855 crore. These funds are being used to fuel Nazara’s expansion plans and to position the company for future acquisitions, helping it explore new markets and strengthen its portfolio.
While Nazara Technologies continues to expand its reach, the company’s financial performance in recent months shows a mixed picture. For the third quarter of FY25, Nazara reported a 52.89% drop in its consolidated net profit from continuing operations, which stood at Rs 13.68 crore. However, the company did see a significant boost in its revenue from operations, which rose by 66.88% to Rs 534.69 crore.
This growth in revenue highlights Nazara’s ability to scale its operations and attract new business, even as it faces challenges in terms of profitability. The company’s focus on new acquisitions, including bolstering its gaming and esports portfolio, is likely to play a key role in its future financial performance.
As Sudhir Kamath exits, the question remains: what will the future hold for Nazara Technologies? Kamath’s leadership was instrumental in guiding the company through a period of transition, but the company now faces a new chapter without his direct involvement. However, the leadership transition is expected to be seamless, given that Kamath has committed to ensuring a smooth handover of his responsibilities.
Nazara’s focus on acquisitions and expanding into new markets is expected to continue. With recent capital raises and a streamlining of its business portfolio, the company is positioning itself for long-term growth, despite short-term profitability challenges.
The company’s expansion into esports, casual gaming, and early learning through brands like NODWIN Gaming and Kiddopia remains key to its strategic vision. Additionally, with gaming continuing to experience explosive growth globally, Nazara is in a strong position to leverage its diverse assets and reach new heights in the coming years.
While Kamath’s resignation marks the end of an important era for Nazara Technologies, the company is set on a path of growth and transformation. The new leadership, combined with the significant capital infusion and strategic acquisitions, will likely help Nazara continue to expand and innovate in the fast-paced gaming industry.
Investors and stakeholders will be watching closely to see if Nazara’s new direction pays off. The gaming industry is constantly evolving, and Nazara’s ability to adapt and stay ahead of the competition will be critical in the coming months.
Sudhir Kamath’s decision to resign as COO of Nazara Technologies marks the end of an era for the company. His leadership during a critical phase helped shape the company’s current position in the gaming market. With Nazara continuing its efforts to raise capital, streamline its portfolio, and expand into new markets, the company remains a significant player in the industry. Kamath’s exit, while a personal decision, will certainly leave a gap, but with a strong leadership team in place and ongoing strategic investments, Nazara is poised for continued success.
