The largest mobile phone operator or to say the newly merged entity ‘Vodafone-Idea’ announces Balesh sharma as the new Chief Executive Officer (CEO).
The recently merged Vodafone India-Idea Cellular released a joint statement on Thursday saying that Balram will take over the business strategy and execution as well as driving integration of the merged entities.
Along with appointment of the CEO, others key positions will be held which includes current MD of the Aditya Birla Group Himanshu Kapania as the non-executive Board of the merged company.
Akshaya Moondra, present Chief Financial Officer(CFO) of the Idea Cellular will be the next CFO of the merged entity. Survamoy Roy will shift his position from the Vodafone Indian Human Resource (HR) to the overall HR functions.
Ambrish Jain will take over the position of the overall circle operations and service delivery from the currently Deputy Managing director at Idea. Shashi Shanker will look over the marketing and brand strategy for the Consumer Business replacing his position from Chief Marketing Officer(CMO).
Vittoria Colao, Chief Executive of the Aditya Birla Group, Kumar Mangalam Birla and Vodafone Group said, “The team has extensive experience and is an excellent blend of expertise from both the companies. We look forward to the completion of the merger and competing as one company in the marketplace”.
The whole process of the merger will be completed by May only after the approval from the Foreign Direct Investment(FDI) from the Government and Department of Telecommunications.
Although the merger will be profitable on a huge run, still they have to face the big challenges in the market place from Bharti Airtel and Jio 4G services.
Sanjay Kapoor, Former CEO of the Bharti Airtel said, “Balesh Sharma will have a huge challenge on his hands and has given the role when the industry at such a precarious stage. He has a golden opportunity to create the number 1 player in the market”.
He added, “This is a marriage of the two-different culture-their supply chain, entire eco system, customer bases are different. He has become CEO when industry is facing headwinds on sustainability and profitability. He has to build the network, deal with constant pressure from Airtel and Jio and look at building a brand for the new firm”.