Updated below

(Original story: 2007-08-09 08:41 PM PST)

Pramath Sinha, MD and CEO of the Anand Bazaar Patrika Group has put in his papers, reports the Economic Times. The story puts exits from the ABP group to disagreements over key management decisions with the Sarkar family, the owners of the ABP group; that even constituting a high profile board of directors did not result in much operating freedom for a professional CEO. There’s no official confirmation of the story, and Sinha has declined comment. As the story, Sinha’s exit could lead to an exodus of number of professionals who had joined ABP from HLL and McKinsey. A fairly detailed story on the exit and its impact here at ET.

Sinha had joined the ABP group from McKinsey. During his tenure, ABP launched a few digital initiatives - the company invested in producer Bobby Bedi’s Kaleidoscope Entertainment, launched an ecommerce portal with Sifymall, a mobile content portal Mjoy, and mobile gaming portal Mjoy4free with Greystripe. In the works were matrimonial and job portals. The BusinessWorld site was revamped. There’s nothing on Sinha’s future plans, but there’s a dearth of CEO level talent in the country today. Recently, Internet head Saurav Sen had put in his papers.

Update: It had been mentioned in the comments to this post that D.D. Purakayastha Executive Director and COO of ABP) has been chosen to head ABP; Agencyfaqs has confirmed that Purakayastha has been appointed MD.

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