Jan 30, 2013, 10.47 PM IST
In a major top-level management restructuring, Bharti Airtel is set to appoint Manoj Kohli as its managing director to revive its mobile business.
Bharti Airtel's founder Sunil Mittal, who is currently its chairman and managing director, will become executive chairman of the company, after Kohli moves to his new role.
Kohli currently heads the firm's international operations as its chief executive officer and is also a joint managing director of the company. A company veteran, he is currently based in Nairobi, the headquarters of Bharti Airtel's African operations.
In a filing to stock exchanges, Bharti Airtel said the board changes will be considered at the company's board meeting tomorrow.
Gopal Vittal, the new CEO of Bharti Airtel's India business, will be named joint managing director. He was named chief executive after the firm's India CEO Sanjay Kapoor stepped down two weeks back.
Vittal will take over as the CEO in March.
The management rejig comes at a time when the company is looking at improving profitability while increasing both 3G and 4G subscriber base.
Bharti Airtel is also grappling with uncertain regulatory environment and bleeding business in Africa.
The company is scheduled to announce its financial results for the third quarter of 2012-13 on February 1.
Shares of the company closed at Rs 344.65 on the BSE, down 1.22 percent from its previous close.
Bharti Airtel stock price
On December 12, 2013, Bharti Airtel closed at Rs 323.50, down Rs 4.65, or 1.42 percent. The 52-week high of the share was Rs 373.50 and the 52-week low was Rs 266.95.
The company's trailing 12-month (TTM) EPS was at Rs 11.45 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 28.25. The latest book value of the company is Rs 135.70 per share. At current value, the price-to-book value of the company is 2.38.
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