Vodafone Idea's CEO Balesh Sharma is stepping down citing personal reasons, according to a statement released by the company.
Sharma will be succeeded by Ravinder Takkar, currently Vodafone Group’s representative in India.
The Board of Vodafone Idea Limited has however said that Sharma will continue his work with the company in a different capacity. Sharma’s new role is yet to be decided and the announcement is impending.
Sharma’s leadership had been instrumental especially during the merger of Vodafone Idea. It was estimated that the largescale integration of the two companies would take about four years, however, under Sharma’s leadership, it was completed over a span of two years. Previously, Sharma also fulfilled the role of the Chief Operating Officer of Vodafone India.
“I would like to thank Balesh for his leadership and the successful integration of the two businesses,” said Kumar Mangalam Birla, Chairman Aditya Birla Group and Vodafone Idea Limited, said, “Under Balesh's stewardship, Vodafone Idea has realized a significant proportion of the synergies in a much shorter timescale than originally estimated. I wish him every success in his next role.”
Sharma’s successor Takkar has been with the group since 1994 and brings with him an extensive expertise in the telecom sector having been the CEO of Vodafone Romania for three years and the CEO of Vodafone Partner Markets in London as well.
He will assume his new role with immediate effect.