Idea Cellular and Vodafone Group Plc announced the proposed leadership team of the combined business, which will come into effect after the merger has been completed. This is in line with the original merger announcement of March 20, 2017, which said that the management team of the combined business would be confirmed prior to closing.
Aditya Birla Group, Chairman, Mr. Kumar Mangalam Birla and Vodafone Group, Chief Executive, Mr. Vittorio Colao, said "We are pleased to announce the proposed management team for the new company to be created through the merger of Idea and Vodafone India. The team has extensive operational experience and is an excellent blend of expertise from both companies. We look forward to the completion of the merger and competing as one company in the marketplace."
The existing leadership teams of Idea Cellular and Vodafone India will continue to manage their separate businesses and be accountable for each company's operational performance until the merger becomes effective. It is only upon completion that the two businesses will cease to operate as distinct and competing entities.
Mr. Kumar Mangalam Birla would be the Non-Executive Chairman of the Board of Directors of the merged Company. The composition of the proposed leadership team of the new company is as indicated:
Balesh Sharma (currently Chief Operating Officer of Vodafone India) will be the Chief Executive Officer (CEO). Balesh Sharma will be responsible for the combined businesses strategy and its execution as well as driving integration.
The following positions will report to the CEO:
• CFO - Akshaya Moondra, currently Chief Financial Officer at Idea.
• COO - Ambrish Jain, currently Deputy Managing Director at Idea, will be responsible for Circles Operations and Service Delivery.
• Nick Gliddon, currently Director - Vodafone Business Services at Vodafone India, will be responsible for the Enterprise Business.
• Manish Dawar, currently CFO of Vodafone India, will have overall responsibility for integration, planning, governance, and execution.
The completion of the merger is expected to be in the first half of the current calendar year, subject to all the approvals coming through as planned.