Idea Cellular and Vodafone Group Plc on Thursday announced the proposed leadership team of the combined business, which will be led by current Vodafone Chief Operating Officer Balesh Sharma.
The existing leadership teams of Idea Cellular and Vodafone India will continue to manage their separate businesses and be accountable for each company’s operational performance until the merger becomes effective. It is only upon completion of the merger that the two businesses will cease to operate as distinct and competing entities. The merger is expected to complete between March-April.
“We are pleased to announce the proposed management team for the new company to be created through the merger of Idea and Vodafone India. The team has extensive operational experience and is an excellent blend of expertise from both companies,” said Aditya Birla Group, Chairman Kumar Mangalam Birla and Vodafone Group Chief Executive, Vittorio Colao in a note.
Sharma joined Vodafone in 2003 (then Hutch) and has over 25 years of experience across companies like Ricoh and Xerox. His previous roles included the Business head of Gujarat Circle, CEO of Vodafone Malta and CEO of Vodafone Czech Republic.
Aditya Birla Group chairman Kumar Mangalam Birla would be the Non-Executive Chairman of the Board of Directors of the merged Company as per the announcement.
Current Chief Operating Officer (COO) of Vodafone India, Balesh Sharma will take charge as Chief Executive Officer (CEO) for the combined business’s strategy and its execution as well as driving integration.
Chief Financial Officer (CFO) at Idea, Akshaya Moondra will take charge as CFO of the new company.
Current Deputy managing director of Idea, Ambrish Jain will take charge as Chief Operating Officer of the new company.
Idea Cellular MD Himanshu Kapania and Vodafone MD and CEO Sunil Sood will continue in their current roles till such time as the merger completes, said the note.
Aditya Birla Group intends to nominate Himanshu Kapania as non-executive Board member of the merged entity and draw upon his vast experience in the broader Group, with a significant assignment in the Group post-merger. Sunil Sood will join the Vodafone Group Africa- Middle East- Asia Pacific (AMAP) Leadership Team and also help governance through Board memberships.
According to latest Cellular operations Authority of India (COAI) reports, Bharti Airtel Ltd continues to hold the top position, with 29.50 per cent market share, adding another 41,73,908 subscribers during February, to take its total subscriber base to 295.79 million subscribers. Airtel is closely followed by Vodafone India Ltd, which ended January with 217.06 million subscribers. This past month, Idea Cellular had the maximum number of subscriber additions, adding 4.42 million to bring its total subscribers to 202.06 million. Reliance Jio has 160 million subscribers.
The existing leadership teams of Idea Cellular and Vodafone India will continue to manage their separate businesses and be accountable for each company’s operational performance until the merger becomes effective. It is only upon completion of the merger that the two businesses will cease to operate as distinct and competing entities. The merger is expected to complete between March-April.
“We are pleased to announce the proposed management team for the new company to be created through the merger of Idea and Vodafone India. The team has extensive operational experience and is an excellent blend of expertise from both companies,” said Aditya Birla Group, Chairman Kumar Mangalam Birla and Vodafone Group Chief Executive, Vittorio Colao in a note.
Sharma joined Vodafone in 2003 (then Hutch) and has over 25 years of experience across companies like Ricoh and Xerox. His previous roles included the Business head of Gujarat Circle, CEO of Vodafone Malta and CEO of Vodafone Czech Republic.
Aditya Birla Group chairman Kumar Mangalam Birla would be the Non-Executive Chairman of the Board of Directors of the merged Company as per the announcement.
Current Chief Operating Officer (COO) of Vodafone India, Balesh Sharma will take charge as Chief Executive Officer (CEO) for the combined business’s strategy and its execution as well as driving integration.
Chief Financial Officer (CFO) at Idea, Akshaya Moondra will take charge as CFO of the new company.
Current Deputy managing director of Idea, Ambrish Jain will take charge as Chief Operating Officer of the new company.
Idea Cellular MD Himanshu Kapania and Vodafone MD and CEO Sunil Sood will continue in their current roles till such time as the merger completes, said the note.
Aditya Birla Group intends to nominate Himanshu Kapania as non-executive Board member of the merged entity and draw upon his vast experience in the broader Group, with a significant assignment in the Group post-merger. Sunil Sood will join the Vodafone Group Africa- Middle East- Asia Pacific (AMAP) Leadership Team and also help governance through Board memberships.
According to latest Cellular operations Authority of India (COAI) reports, Bharti Airtel Ltd continues to hold the top position, with 29.50 per cent market share, adding another 41,73,908 subscribers during February, to take its total subscriber base to 295.79 million subscribers. Airtel is closely followed by Vodafone India Ltd, which ended January with 217.06 million subscribers. This past month, Idea Cellular had the maximum number of subscriber additions, adding 4.42 million to bring its total subscribers to 202.06 million. Reliance Jio has 160 million subscribers.
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