Mumbai: Nazara Technologies has appointed Raymond A. Stauffer as its Chief Executive Officer, with founder Nitish Mittersain transitioning from the CEO role to continue as Managing Director, marking a new leadership phase for India’s listed gaming company.
Announcing the move through a LinkedIn post, Mittersain said the transition follows the completion of his second stint as CEO, during which he focused on strengthening Nazara’s gaming identity, expanding its global footprint and preparing the company for its next phase of growth.
Reflecting on his journey, Nitish Mittersain, Managing Director, Nazara Technologies, said, “For now 40 years, since I wrote my first game at seven, games have been at the centre of my life. And for 27 of those years, Nazara has been at the heart of that journey all the way to becoming India’s first and only listed gaming company & beyond.”
He added, “When Manish Agarwal completed his successful tenure as Nazara CEO in 2022, I returned for a second stint with a clear objective: strengthen Nazara, sharpen our identity as a gaming company, prepare it for global growth and, at the right time, once again bring in the right CEO. Today marks another important milestone in that journey.”
During his second tenure as CEO, Nazara’s revenue grew from ₹1,091 crore in FY23 to ₹1,829 crore in FY26, while EBITDA increased from approximately ₹110 crore to ₹255 crore. The company also raised over ₹1,600 crore in growth capital, expanded its gaming intellectual property and global presence through acquisitions, including the US$303 million acquisition of Bluetile and BestPlay.
Speaking about the company’s evolution, Mittersain said, “Nazara today is more global, more gaming-focused and better positioned for the future than ever before. We have expanded across mobile, PC and console gaming, strengthened our publishing platform, and built capabilities across AI, data, product and user acquisition.”
Acknowledging the challenges along the way, he noted, “Not every decision worked exactly as planned. We navigated significant industry turbulence, some investments took longer to mature and a few integrations proved more challenging than expected. The lasting lesson is simple: building an enduring company is not about getting every decision right. It is about learning, adapting and continuing to move forward.”
Welcoming the new CEO, Mittersain said, “I am delighted to welcome Raymond A. Stauffer as CEO. Having worked closely with him over the past year, I believe his founder mindset, global operating experience and capabilities across gaming, AI, product and data make him the right leader for Nazara’s next phase.”
On his continuing role, he added, “My role at Nazara is evolving, not ending. As Managing Director, I will contribute to its long-term direction, strategic partnerships, key stakeholder relationships and select initiatives where I can add the greatest value.”
Expressing gratitude to the team, Mittersain concluded, “What has made this journey truly special are the extraordinary people who have been part of it. Every one of you has helped shape Nazara and, in many ways, shaped me too. I remain deeply proud of what we have built together and convinced that Nazara’s best chapters are still ahead.”
Commenting on his appointment via LinkedIn, Raymond A. Stauffer, CEO, Nazara Technologies, said, “Very excited to announce that I’ve been appointed CEO of the Nazara Technologies Limited group – the first and only publicly listed gaming company in India.”
With the leadership transition, Nazara aims to build on its gaming-focused strategy while accelerating global expansion, AI capabilities and long-term growth under Stauffer’s leadership, with Mittersain continuing to guide the company’s strategic direction as Managing Director.
