Vikram Akula issues statement on termination of Suresh Gurumani

After refusing to provide information on the circumstances that led to the firing of Suresh Gurumani for more than week, Vikram Akula went into damaged control mode yesterday and at a hastily convened press conference revealed that the board had unanimously decided to fire the chief executive, Suresh Gurumani, because of  interpersonal differences between him and other executives.

He declined to provide more details but said that that Mr M. R. Rao was better placed to lead the next phase of growth at SKS Microfinance.Vikram Akula also added that SKS Microfinance was running several pilot projects on Micro Housing and Loans against Gold and would introduce these new secured lending products at a suitable time.

Vikram Akula SKS GuruamniVideo of Vikram Akula clarifying on the termination of SKS Microfinance’s CEO

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