Sunil Raina is named as the acting managing director of Lava International

 Sunil Raina is named as the acting managing director of Lava International

"Raina will assume the assignment of interim chief executive officer with immediate effect, following acceptance by the company's board in a meeting on November 6, 2023," Lava said in the press release.

With immediate effect, Lava International, a homegrown manufacturer of mobile devices, said on Tuesday that Sunil Raina, its president, has been promoted to Whole Time Director and Interim Managing Director.

In lieu of Lava's Managing Director Hari Om Rai, who is being held by the Enforcement Directorate for his suspected participation in a money laundering case brought against the Chinese mobile device manufacturer Vivo, he will manage the company's operations.

"Raina will assume the title of interim managing director with immediate effects, following approval by the board of directors of the organization in the meeting that took place on November 6, 2023," Lava said in a statement.

Raina has been a key member of Lava International for the last 13 years, having previously held the positions of President and Business Head. Raina has over 20 years of experience altogether.

As per the statement, Raina oversees Lava's operations and makes sure the firm keeps up its 'Make in India' pledge while also advancing innovation and growth.

We see a huge potential ahead of us as we enter a fast-paced development phase of our brand journey. "I'm happy to be in this position and excited to help Lava maintain its success by consistently innovating and providing our customers with outstanding quality," Raina said.

Early in October, the business declared its intention to spend up to Rs 600 crore in product development and marketing over the following two years, with the goal of capturing 10% of the market share in the smartphone sector that costs less than Rs 30,000.

Lava is the sole manufacturer of mobile devices in India that is still operating after a number of domestic firms failed in 2016 and 2017 as a result of aggressive pricing and commercial pressure brought on by changes to the GST system and demonetisation.