India, Jan. 27 -- Sridhar Vembu, the founder of the Zoho Corp, has stepped down as the CEO of the software firm. He wrote on X that he would focus on research and development as the 'Chief Scientist' of the company.

"A new chapter begins today. In view of the various challenges and opportunities facing us, including recent major developments in AI, it has been decided that it is best that I should focus full time on R&D initiatives, along with pursuing my personal rural development mission," he wrote on X.

Vembu, who is known for his focus on sustainable development and rural economy, said he would be responsible for deep "R&D" initiatives.

Sridhar Vembu said the group's co-founder, Shailesh Kumar Davey, will be the new CEO.

"I will s...