Vodafone-Idea AGM on December 22 to ratify appointment of CEO, other directors

Vodafone Idea (Representative Image)

The first shareholder meeting of recently-merged Vodafone-Idea will be held on December 22 that among other things will ratify the appointment of Balesh Sharma as its chief executive for a monthly salary of up to Rs 31.8 lakh.

In a regulatory filing on Friday, the company said that its 23rd Annual General Meeting (AGM) will be held on December 22, to seek shareholders' nod on appointment of Balesh Sharma as the Chief Executive Officer of the company for a period of five years with effect from August 31, 2018.

Besides remuneration of Rs 31.8 lakh that includes basic salary and flexible allowance, Sharma would also be entitled to benefits and perks, annual incentive plan and long term incentive plan.

Other resolutions pertain to appointment of D Bhattacharya, Ravinder Takkar, Thomas Reisten, Vivek Badrinath as non executive directors.

Vodafone-Idea, the new entity that emerged from the amalgamation of India operations of the UK's Vodafone plc and Idea Cellular, is now the largest operator in the Indian telecom market and competes with rivals such as Bharti Airtel and Reliance Jio.