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Vodafone Idea CEO Ravinder Takkar to step down, CFO Akshaya Moondra to be elevated

Ravinder Takkar, chief executive officer and managing director, Vodafone Idea.

1 min read . Updated: 22 Jul 2022, 08:49 PM IST Livemint

Vodafone Idea Managing Director and CEO Ravinder Takkar will step down. However, he will continue to be on the company's board as a non-executive director

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Debt-ridden telecom operator Vodafone Idea will elevate Chief Financial Officer (CFO) Akshaya Moondra as its new Chief Executive Officer (CEO), the company said in a regulatory filing to the BSE.

Vodafone Idea Managing Director and CEO Ravinder Takkar will step down. However, he will continue to be on the company's board as a non-executive director.

“Ravinder Takkar, the Managing Director and Chief Executive Officer, was appointed as such by the Board of Directors of the Company on 19th August, 2019 for a term of 3 years, which term shall come to an end on close of business hours on 18th August, 2022," the statement read.

The company also said that Moondra will be appointed the CEO for a period of three years effective 19 August, 2022

It said, “The Board of the Company, at its meeting held a while ago has, based on the recommendation of the Nomination & Remuneration Committee, appointed Mr. Akshaya Moondra, currently the Chief Financial Officer of the Company, as the Chief Executive Officer of the Company for a period of 3 years effective 19th August, 2022."

The firm further clarified that Takkar will continue to be a Non-Executive and Non Independent Director of the company post completion of his term as the MD and CEO of the company.

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