Vodafone Idea appoints Akshaya Moondra as CEO

Takkar, though will continue to be a non-executive and non-independent director of the company post completion of his term as the MD & CEO, the company said in a statement.

Vodafone Idea appoints Akshaya Moondra as CEO
Takkar is an experienced global executive with nearly three decades in the Vodafone Group

Vodafone Idea has appointed Akshaya Moondra as its chief executive officer with effect from August 19, for a period of three years. The appointment comes in the wake of current CEO Ravinder Takkar’s three-year tenure coming to an end on August 18. Takkar, though will continue to be a non-executive and non-independent director of the company post completion of his term as the MD & CEO, the company said in a statement.

“The board of the company has, based on the recommendation of the nomination & remuneration committee, appointed Akshaya Moondra, currently the chief financial officer of the company, as the chief executive officer of the company for a period of 3 years effective August 19, 2022,” the statement said.

Takkar is an experienced global executive with nearly three decades in the Vodafone Group, and will continue to serve the group while Moondra has over thirty years of international experience and over 14 years’ experience in the Indian telecom sector.

“The board would like to thank Ravinder for his solid leadership of Vodafone Idea over the last three years. He has steered the company through the world’s largest telecom integration and made the company a future-fit digital telecom player. We are pleased to welcome Akshaya Moondra as our new CEO. He is well versed with the Vodafone Idea business context, and I am confident that he will successfully steer the company through the next phase of development and help unlock its full potential,” Himanshu Kapania, chairman, Vodafone Idea, said.

Vodafone Idea, which has been lagging behind rivals Reliance Jio and Bharti Airtel on all fronts, is looking to raise Rs 20,000 crore from lenders and investors. The company expects the funds to come once the government approves conversion of its debt into equity in the company. The promoters of the company (Vodafone Group and Aditya Birla Group) had infused Rs 4,500 crore into the company in March. With this infusion, the promoters’ infusion would be to the tune of Rs 4,936 crore.  

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