Housing.com CEO and co-founder Rahul Yadav was sacked after a board meeting on Wednesday, July 1, 2015.
The Board, in its statement, said that Yadav was released with “immediate effect,” citing reason that his behaviour was not up to the mark and not “befitting of a CEO”.
Now Housing.com is looking for a new interim CEO, and they already have put a transition plan in place.
The statement read; “The board believed that his behaviour is not befitting of a CEO and is detrimental to the company, known for its innovative approach to product development, market expansion and brand building,”
Senior executives will as of now will take the key decisions and the current day-to-day operations care.
The local police were called upon to avoid any untoward incidents by Rahul Yadav or his supporters.
Rahul was asked to leave the office immediately, and he went out without any delay.
The 26-year-old Rahul’s sacking came after reports surfaced that Quickr will acquire Housing.com.
Yadav’s emails to the website employees and reports that he was circulating two different stories to the media also added fire to his ouster.