Nazara Technologies CEO shift: Stauffer takes charge 2026

Leadership change at Nazara Technologies

Nazara Technologies has announced a major leadership transition, with founder Nitish Mittersain resigning as chief executive officer (CEO) effective September 1, 2026. Mittersain will continue to serve as managing director (MD), keeping him in a central position on long-term direction and key decisions. The company’s board has appointed Raymond Albaladejo Stauffer as the new CEO, with his term beginning when Mittersain’s resignation takes effect. The move marks a new phase for one of India’s oldest gaming companies, founded in 1999.

What changes on September 1, 2026

The key shift is in operating leadership, not ownership or founder involvement. Mittersain will step away from the CEO role but remain MD, indicating a separation between day-to-day executive management and long-range strategic oversight. Nazara said Mittersain will focus as MD on shaping long-term strategy, portfolio direction, strategic partnerships, and key stakeholder engagement. The company has framed the transition as a structured handover rather than an exit.

Mittersain’s recent CEO tenure and earlier transition

Mittersain had taken over as CEO in October 2022 after the resignation of then-CEO Manish Agarwal. The CEO role has therefore seen changes over the last few years, with Mittersain returning to run the company following Agarwal’s exit. With the September 2026 change, Nazara is again rebalancing leadership responsibilities, moving the CEO seat to an external appointee while retaining the founder as MD.

Who is incoming CEO Raymond Albaladejo Stauffer

Raymond Albaladejo Stauffer is the founder of Spain-based Bluetile Games. Nazara Technologies had agreed to acquire Bluetile Games in March, and Stauffer’s appointment ties into that corporate move. With the board’s decision, Stauffer is set to lead Nazara as CEO from September 1, 2026. The company has not detailed additional operational priorities tied to his appointment beyond the effective date and board approval.

Separate senior exit: COO Sudhir Kamath resigns

Nazara has also disclosed the resignation of its chief operating officer (COO), Sudhir Kamath, through formal filings with the National Stock Exchange of India (NSE) and BSE. Kamath will step down effective April 1, 2025, after a two-and-a-half-year stint. The company said Kamath decided to resign to relocate to his hometown and spend more time with his family, with one disclosure specifically mentioning Delhi. In his resignation letter addressed to managing director Nitish Mittersain, Kamath wrote that his tenure offered a chance to learn from directors and colleagues across the group and subsidiaries.

Kamath’s background and succession plan

Before joining Nazara in October 2022, Kamath co-founded 9stacks and led it as CEO for over five years, according to the company’s disclosures. His appointment at Nazara coincided with the October 2022 leadership transition when Mittersain returned as CEO following Manish Agarwal’s resignation. Nazara has said it is expected to announce a successor to Kamath in due course, but it has not named a replacement so far. The timing means the company is managing two senior leadership changes across different time horizons.

Financial snapshot: revenue up, profit down in Q3 FY25

Alongside leadership updates, Nazara’s filings and reports cited strong operating revenue growth but weaker profitability. Operating revenue increased to ₹535 crore in Q3 FY25 from ₹320 crore in Q3 FY24, a year-on-year rise of 67%. However, profit declined sharply year-on-year, with Q3 FY25 profit reported at ₹13.7 crore compared with ₹29.5 crore in Q3 FY24, a fall of 53.6%. Another disclosure around the same quarter cited consolidated net profit from continuing operations of ₹13.68 crore on revenue from operations of ₹534.69 crore, broadly consistent with the rounded figures.

Market reaction in Nazara Technologies shares

Reports around the developments showed mixed stock movements across sessions. In one trading session cited, Nazara Technologies shares closed at ₹937.7, up 0.44% on the BSE, while the Sensex fell 0.1%. In another update, shares were reported down 0.77% at ₹930.45 on the BSE. The stock moves were reported in the context of the company’s quarterly performance and leadership changes, without attributing the price action to a single trigger.

Key facts and numbers at a glance

What investors may track next

The near-term watchpoint is operational continuity as the company prepares for Kamath’s April 2025 exit and the appointment of his successor. Over the medium term, investors will track how responsibilities are split between Mittersain as MD and Stauffer as CEO once the September 2026 transition takes effect. Separately, the combination of sharp revenue growth with a year-on-year profit decline in Q3 FY25 keeps attention on execution, costs, and margins as the company scales. Nazara has indicated future updates on leadership appointments, and the next formal disclosures are likely to provide more clarity on succession and management priorities.