Laqshya Media's young and energetic president, strategy, Chetan Madaya, has put in his papers at the out of home media group, where he has spent around two years.
Madaya was actively involved in the aggressive growth and transformation of Laqshya and also in raising capital for it.
Madaya plans to move on, but is not clear as yet about his future plans. He is currently in the process of weighing his options and has a couple of offers he is looking at seriously. He may also look at taking a stake in a new venture, but chooses not to share any more about this, saying only that it is too early to talk about it.
has nearly two decades of work experience, with a career spanning such domains as out of home media, financial advertising, capital markets, sports marketing and financial retailing.
He started his career as an entrepreneur and cofounded Genesis Promotions, a product promotions firm, in Bengaluru. He also helped to start up Clea Advertising and Marketing, a player in the financial advertising space, as its regional head in Bengaluru. From here, he moved to First Securities, a retail equity broking business as chief executive officer.
Later, joining Relay Worldwide, the sports practice of the Starcom MediaVest Group, Madaya helped develop a region specific business model for Asia. After Starcom, he became CEO at Right Angle Media, India, a company involved in the acquisition of global in-stadia advertising rights in cricket.
Madaya then joined the Laqshya Group as group chief strategy officer, where his role was to help out with new initiatives, funding, acquisitions and corporate branding, besides strategy for all business initiatives. Additionally, he was CEO of Laqshya Digital Media, a 100 per cent subsidiary of Laqshya Media. He was instrumental in launching Business Q, the digital signage division that targets working professionals.
After the recent restructuring at the group, Madaya became president for strategy. Following the restructuring exercise, Laqshya has moved from a product centric structure and merged the sales and operations of all its products, including the digital media business. There is no separate CEO for the digital media business now.
Incidentally, Madaya was a prominent speaker and panellist at the Digital Signage Asia 2008 event held in Mumbai in October, where he made some strong points and spoke passionately about digital signage and the need to understand the medium in different settings.
He does not tell us whether his next move will be in OOH, but says he will share details when the time is right.