"The company's heartfelt thoughts and condolences are with Sanjay's family and all those who knew Sanjay," Vistex said in a statement
A company is speaking out after its CEO died following an accident at a party last week.
Vistex, an Illinois-based software company, confirmed in a statement on Monday that CEO Sanjay Shah died and president Raju Datla was seriously injured after "a tragic accident that occurred at a company event" in India on Thursday.
"The company's heartfelt thoughts and condolences are with Sanjay's family and all those who knew Sanjay in both professional and personal capacities," the statement read. "Sanjay Shah was an extraordinary leader whose presence permeated the working life of every associate and colleague at Vistex."
"His leadership and presence were truly unique; Sanjay will be sorely missed by all," the company added.
Both men were inside a suspended cage when the chain holding the cage broke on one side, causing them both to fall 15 feet onto the stage, per Fox Business and WBBM-TV.
A CBS affiliate in India reported that 700 people were in attendance.
“At the time of the accident, music was being played, and Shah and Raju were waving to their staff while being lowered," a police official told The Times of India.
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Vistex said that Shah died following the horrific incident, while Datla remained hospitalized as of Monday.
Datla, who sustained a severe head injury, had been in critical condition, per the reports. It's unclear if his condition has changed.
According to the company's statement, Shah was a "self-made entrepreneur" who left India to attend business school at Pennsylvania's Lehigh University. After earning his MBA in 1989 he went on to work at PricewaterhouseCoopers, General Motors and software company SAP before founding Vistex.
The company said that Shah "had a deep-felt desire to give back" and formed a number of foundation and charity programs. Additionally, he donated $5 million to Lehigh University to establish the Vistex Institute for Executive Learning and Research and in 2020 he helped open up a hospital in Bihar, India.
At this time, our focus is on mourning Sanjay," the company said. "Further communication will be provided after the official mourning period is over."
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