Uninor appoints Yogesh Malik as CEO
Sigve Brekke will step down as MD, but will continue to be responsible for all of Telenor affairs in India
New Delhi: Norwegian telecom major Telenor ASA’s Indian arm Uninor on Thursday announced the appointment of Yogesh Malik as the firm’s chief executive officer (CEO). The company added that Sigve Brekke will step down as managing director (MD), but will continue to be responsible for all of Telenor affairs in India as the head of Telenor Group’s Asian operations.
“In parallel to being manager director of Uninor, Sigve Brekke has also held the position as Telenor group head of Asian operations. When he now steps down as MD of Uninor, he will fully focus on this role," the company said in a release.
Brekke will formally take over as chairman of Uninor once necessary regulatory clearances are secured, the release added.
“It is now time for me to strengthen my focus on further development of Telenor group’s Asian portfolio. Asia represents a strong growth potential, and I believe Telenor is well positioned to capture more than its fair share of this growth," Brekke said on his role as head of Asian operations.
Brekke added: “Since he (Malik) has joined the company as chief operating officer (COO) in 2011, he has played an instrumental role in establishing Uninor as the most affordable mobile operator."
Previously, Malik held executive positions at Telenor Group headquarter in Norway and also served as the chief technology officer of Telenor Group companies in Ukraine and Bangladesh.
Uninor narrowed its operating loss to Norwegian Krone (NOK) 194 million (about ₹ 179.83 crore) for the quarter ended March 2013 against a operating loss of NOK 4,684 million (around ₹ 4,342.51 crore) in the same period last year.
Revenue was down 29.83% to NOK 708 million ( ₹ 657.07 crore), compared with NOK 1,009 million ( ₹ 936.36 crore) in the year-ago period.
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