Xiaomi India Announces Major Changes In Leadership Amidst Ongoing Money Laundering Investigation

Xiaomi India Announces Major Changes In Leadership Amidst Ongoing Money Laundering Investigation

Xiaomi India on Friday has confirmed reports that Manu Kumar Jain has moved on from his leadership role in the country to become the Group Vice President for the global markets. In place of Manu, Xiaomi India is appointing Alvin Tse as the General Manager, and along with him Anuj Sharma from Poco India rejoins Xiaomi once again as the company’s new Chief Marketing Officer.

The update was shared by the company on its social media channels on Friday.

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These changes have been coming for a while, especially since Manu was caught in a tussle with the administrative bodies in India. Both Alvin and Anuj have been part of the Xiaomi ecosystem, allowing them to seamlessly integrate into the company’s business and operations in India.

Xiaomi India has also been accused of laundering money by the Enforcement Directorate (ED) in the past few weeks. ED also seized funds worth over Rs 5,551 crore from the Chinese mobile manufacturing company for violating the Indian foreign exchange law. Such huge amounts in the name of royalties were remitted on the instructions of their Chinese “parent group” entities, it alleged

The leadership changes at Xiaomi India have been made to clear up the decks for Manu to operate out of Dubai from here on. With this tweet, Manu confirmed his move abroad.

Prior to his departure, ED had questioned Manu Kumar Jain, at the agency’s regional office in Bengaluru last month.

With Alvin and Anuj both moving on from Poco it remains to be seen what happens to the brand, even though Poco has closely operated with Xiaomi even after becoming an independent brand a few years back.

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Xiaomi has become the leading smartphone brand in India under the leadership of Manu, but in the past few quarters, it has seen the gap between its rivals cut down. The likes of Samsung, Realme and Vivo are hot on the heels of the Chinese giant, and they will be hoping for further in-roads into the market with such drastic changes at the helm at Xiaomi.

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Assam Press