Vegesna takes over Sify reins from Ramaraj

Sify today announced that chairman Raju Vegesna has taken over as managing director and chief executive officer from R Ramaraj. Ramaraj was heading Sify since its inception in 1997-98, then called Satyam Online.

On whether difference of opinions with promoters lead to his exit, Ramaraj said, "Not at all, I have been asked by the chairman to stay on as an advisor to him. I have been contemplating leaving Sify for the last three to four months so as to pursue my passions."

In 2005, Silicon Valley-based entrepreneur Raju Vegesna had acquired 31.61 per cent stake in Sify through Infinity Capital Ventures for $62.6 million.

On other top profile exits of Ajit Abraham, chief human resource officer, and Rustom Irani, chief technology officer, Ramaraj said they had announced their intention of pursuing other career opportunities much earlier and their decision to move on was independent of each other. "They will be staying on for few more weeks," he added.

Ramaraj said he would play an advisory role in identifying select startup companies for better funding, on listing them in stock exchange, have corporate governance.

"I am yet to work out the structure, as how I would be going about this plan," he added. He will also be associated with leading venture capital firms to identify, fund and mentor select start-ups to commercial success.

Ramaraj said he would also be rendering an advisory role in searching and finding talent for the Gold Quest Foundation promoted by former billiards world champion, Geeth Sethi and badminton player Prakash Padukone. The foundation aims to make India win gold medal by 2012 and nurturing talent towards it.