Vodafone Idea announced its CEO Balesh Sharma resigned, citing “personal reasons”, and named Ravinder Takkar, currently Vodafone Group’s representative in India, as his replacement.
The announcement in a stock market filing comes about a year after Vodafone India and Idea Cellular completed their long-awaited merger, at the time creating the country’s largest mobile operator.
At the end of July, the operator posted its third consecutive quarterly net loss in the opening period of its fiscal year 2020, as subscriber numbers fell below those reported by rival Reliance Jio. During its fiscal Q1, Vodafone Idea lost 14.1 million subscribers, leaving it with a base of 320 million.
Both Vodafone Idea and rival Bharti Airtel have seen profitability decline as a protracted price war sparked by Jio has pushed ARPU to what industry analysts say are unsustainable levels.
In February Sharma highlighted its integration progress, noting the company was “moving faster than expected on integration, specifically on the network front.”
Prior to his current role, Takkar, who is a director on the board of Vodafone Idea and Indus Tower, was CEO of Vodafone Romania for three years and CEO of Vodafone Partner Markets in London.Subscribe to our daily newsletter Back