In a surprising turn of events, Housing.com CEO, Rahul Yadav has taken back his resignation as well as apologized for his angry remarks about his board members that he had stated in his resignation letter. However, unconfirmed sources have reported that Yadav has been stripped off from making important financial decisions. The company has issued a statement saying that the Housing board met, and has been reconstituted to include all main shareholder representatives.
“After some frank and healthy discussions with the Board I have agreed to withdraw my resignation and I apologize for my unacceptable comments about the board members. I look forward to staying on at Housing as CEO and building an even greater company, while working in full harmony with the board.” said Yadav.
Prior to this, Yadav had expressed his scathing views via an angry resignation letter that he sent out on April 30th to board members and investors. The letter spoke about Yadav believing them to be “intellectually incapable” and giving them a week’s time to “help in the transition”. The following day, the investors responded, acknowledging the resignation through the law firm Morrison and Foerster LLP.
Whether this will invite bad blood between Yadav and the company’s board or create a fresh new start, only time will tell.
