Multiple media outlets reported that Sanjay Shah, CEO of leading Illinois-based revenue management company Vistex, fell to his death in a freak accident in India on Thursday.
According to the Chron, the incident occurred during the company's 25th anniversary celebrations. The 56-year-old tech boss was a prominent figure in the tech industry, the outlet said. He was reportedly performing on stage in an iron cage along with his colleague Raju Datla, the company's president since 2000, when the unexpected tragedy occurred. During a raucous moment of the event, as fireworks lit up the stage, the cable holding the cage suddenly snapped, according to witnesses from the outlet.
This safety failure reportedly caused the cage to fall 15 feet and crash onto the concrete below while Shah and Datla were inside. According to reports, emergency services were immediately called to the scene and both men were taken to hospital. Shah succumbed to his injuries while Datla was reportedly in a serious condition, the source said. (RELATED: 'Harry Potter' Publishing President Dies in Horrific Speedboat Accident: REPORT)
In a tragic incident, the R&D head and CEO of Vistex Asia was killed #SanjayShah died when he fell from a height of six meters to the ground during the company's silver anniversary celebrations.
The incident took place at Ramoji Film City #Hyderabad pic.twitter.com/QEd9BVA5e6
– South First (@TheSouthfirst) January 19, 2024
A Vistex official described the planned event as an energetic start to the celebrations. “Shah and Raju being lowered from the cage to the podium was a planned event to boost the celebrations,” a company official told the Times of India.
“Suddenly one of the two wires attached to the cage broke. Both fell more than 15 feet and landed on the concrete platform. Due to this, several people were injured,” Sub-Inspector D. Karunakar Reddy of Abdullapurmet police station told the newspaper.
Founded by Shah in 1999, Vistex has grown into a global powerhouse with over 2,000 employees across 20 offices worldwide, according to the Chron. The company has an impressive client list, including giants like GM, Barilla and Bayer. In preparation for the silver jubilee celebration, the employees were accommodated at Ramoji Film City and awaited a joyous two-day event.