Vodafone Idea on April 20 informed the stock exchanges that it has appointed Kumar Manglam Birla, the chief of Aditya Birla Group, as a non-executive director on its board.
Birla has been brought back on the board of the debt-ridden telecom operator, nearly two years after his exit. He had stepped down as the non-executive director in August 2021.
"The board of directors of the company has, at its meeting held today, appointed Kumar Mangalam Birla, as an additional director (non-executive and non-independent) with effect from 20 April 2023," the regulatory filing stated.
The announcement came shortly after Vodafone Idea said that Krishna Kumar Maheshwari has resigned as a non-executive director, with effect from April 19, due to "personal reasons".
Maheshwari, also a former managing director of UltraTech Cement, was the representative of Aditya Birla Group on Vodafone Idea's board. The conglomerate has an 18 percent stake in the loss-making telecom company.
Maheshwari was brought on the board of Vodafone Idea on March 3, 2022 as an additional director (non-executive and non-independent).
Since then, the company has seen two major changes at the top. Chief financial officer Akshaya Moondra replaced chief executive officer Ravinder Takkar in July and Takkar took over as the chairman in August from Himanshu Kapania.
In the trading session on April 20, the shares of Vodafone Idea settled flat, closing at Rs 6.06 at the BSE.
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