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Chitra Phadnis

BANGALORE, Dec. 26

MR Joy Nandi, the last of the original five promoters behind the start-up Bangalore Labs, has put in his papers.

Mr Nandi, who has been CEO for the past six months, said that he had not yet decided about the next step. "I have been helping to put in place a succession plan," he said. Bangalore Labs (now a subsidiary of the Singapore-based PlanetOne) has been divided into two on the basis of geographies.

While Mr Milind Dikshit, Director, will head the India operations, Mr Greg White will head the international operations and Mr Tim Morley will look after the US operations.

The last CEO, Mr T.G. Ramesh quit the company in June this year, together with another promoter and chief executive of Indian operations, Mr Umesh Malhotra. Mr Ramesh parted ways with PlanetOne because of a reported disagreement on the direction that the company should take. While PlanetOne favoured an APAC-centric approach, Bangalore Labs wanted to continue with its original focus on the North American markets. The other two promoters had quit even earlier.

A start-up promoted by five professionals, the company was born in 1999 with venture funding from ICICI Venture Fund. It was the first to offer managed services in the country and to offer remote network management.

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