Pentamedia chief operating officer quits

In a move that caught the software world by surprise, K. Srinivasan, director and chief operating officer of the Chennai-based animation major Pentamedia Graphics, has quit the company. He has now joined another Chennai-based software company, Maars Software International, as its chief operating officer.

G.V. Babu formerly vice president, Interactive Technologies has replaced Mr. Srinivasan at Pentamedia Graphics. Incidentally Mr. Babu is now in the US, leading a team to promote Num TV, the company's streaming portal.

Speaking about his move to Maars Software Mr. Srinivasan says, "This is a shift from entertainment to the software field. All these years  (except for one year or more), I was in the software field."

However the market is agog with rumours that the main reason for Mr. Srinivasan's departure has been Pentamedia's failure to complete the much-hyped take over of the US-based Film Roman.

In July this year, Pentamedia and Film Roman had entered into settlement agreement whereby the former would pay US$ 350,000 in cash to Film Roman. This would release both parties from any past or future claims or causes of action arising out of, or related to, the original stock purchase agreement and the memorandum of understanding. The settlement agreement also makes it incumbent on the two parties not to make disparaging statements or comments about each other.

Dismissing such rumours are Mr. Srinivasan and Dr.V. Chandrasekaran, chairman and chief executive, Pentamedia Graphics. Reiterates Mr. Srinivasan, "It is just that I am going back to software field."

"Looking back it is easy to point reasons. Some things are under control and some are not. All actions are taken in the overall interests of the company. There is no connection between the failed Film Roman deal and his quitting," supports Dr. Chandrasekaran.

Adding further he says, "In fact I wanted him to take care of `Mayajaal' (the company's theme entertainment business). But he was insistent on going back to software field rather than entertainment." Though Mr. Srinivasan is an aggressive marketing person, entertainment marketing is a different ball game and he was not comfortable with that, Dr. Chandrasekaran remarks.

When queried whether it is the right time for handing over the responsibility to Mr. Babu given his youth Dr. Chandrasekaran opines, "It is better to have a person from inside. More over Mr. Babu is technically sound and also good at marketing. This is actually a techno commercial job."

According to him people who are less than 35 years of age have business intelligence but lack business maturity and the reverse is applicable in the case of persons over 35. "If a young person is given the responsibility then he will surely rise up to the expectations," he hopes.