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Meta Loses Yet Another Key India Official To Rival

Benzinga · 11/16/2022 06:29
  • Meta Platform Inc's (NASDAQ:META) former policy head for India will assume a similar role at Samsung Electronics Co, Ltd's (OTC: SSNLF) local unit. 
  • Rajiv Aggarwal will take up the position, which entails liaising with and lobbying government officials on domestic policy matters, from December, Bloomberg reported.
  • Also Read: Amazon Launches Logistics Network In India After Walmart-Backed Flipkart
  • Aggarwal was among several key executives to depart Meta's local operations this year, as U.S. internet giants, including Alphabet Inc's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, battled increasingly stringent oversight of content.
  • Meta had shared the departures of Aggarwal and Abhijit Bose, the head of WhatsApp in India. The exits followed the resignation of Meta's India head Ajit Mohan to join rival Snap Inc (NYSE:SNAPin a critical position.
  • Samsung has been a critical beneficiary of financial incentives that have helped India become the world's second-biggest maker of mobiles. 
  • Rival Apple Inc (NASDAQ:AAPL) has also expanded production in India, crossing $1 billion in iPhone exports this year.
  • Price Action: META shares traded lower by 0.23% at $116.81 premarket on the last check Wednesday.