Yesterday, telecom major, Vodafone Idea Joint Venture announced that Kumar Mangalam Birla has resigned as non-executive director and non-executive chairman.
Himanshu Kapania who is currently non-executive director and the former managing director of the erstwhile Idea Cellular before its merger with Vodafone India will replace.
“The Board of Directors of Vodafone Idea Limited, at its meeting held today, have accepted the request of Kumar Mangalam Birla to step down as Non-Executive Director and Non-Executive Chairman of the Board with effect from close of business hours on 4th August, 2021,” Vodafone Idea said in exchange filing on Wednesday, August 4, 2021.
Consequently, the Board has appointed Himanshu Kapania, currently a Non-Executive Director, as the Non-Executive Chairman. Himanshu, is a nominee of the Aditya Birla Group, is a telecom industry veteran with 25 years of experience, the company said.
Kumar Mangalam Birla had taken over as non-executive chairman of Vodafone Idea in August 2018 after the closure of a $23-billion merger between Idea Cellular and Vodafone India, the telecom unit of UK’s Vodafone Group.
Vodafone Group has a 44.39% stake in Vodafone Idea Joint Venture.