Vodafone Idea board appoints Akshaya Moondra as next CEO

(Representative image: Reuters)

Telecom major Vodafone Idea Ltd (VIL) on July 22 announced the appointment of Akshaya Moondra as its next chief executive officer. His tenure, for a period of three years, will begin from August 19, 2022, the company said in a statement.

Moondra, who is currently VIL's chief financial officer, would be replacing Ravinder Takkar as the CEO. The latter's three-year term at the company's helm is scheduled to conclude on August 18.

The new chief financial officer, who would replace Moondra for the post, will be announced in due course, the statement added.

Moondra's appointment is based on the recommendation of the company's nomination and remuneration committee, VIL said. He has "over thirty years of international experience and over 14 years’ experience

in the Indian telecom sector", it added.

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"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," VIL Chairman Himanshu Kapania said.

Although outgoing CEO Takkar would be replaced by Moondra, he would continue to remain a part of the Vodafone Group, the telecom firm clarified.

"Takkar is an experienced global executive with nearly three decades in the Vodafone Group, and will continue to serve with Vodafone Group," it said.

According to Kapania, Takkar has steered the company through the world’s largest telecom integration and made the company a "future-fit digital telecom player". The board would like to "thank him for his solid leadership" over the last three years, the VIL chairman added.

VIL's shares closed at Rs 8.93 a piece at the BSE on July 22, which was 1.11 percent lower as compared to the previous day's close. At the NSE, the share price dropped by 0.56 percent as against the previous day to close at Rs 8.95.