VIL shareholders approve Moondra as CEO; Takkar becomes non-exec director

Shareholders of Vodafone Idea have approved elevation of company's chief financial officer Akshaya Moondra as new chief executive officer, according to voting result of the annual general meeting

Vodafone Idea
Vodafone Idea
Press Trust of India New Delhi
2 min read Last Updated : Aug 30 2022 | 9:09 PM IST

Shareholders of Vodafone Idea have approved elevation of company's chief financial officer Akshaya Moondra as new chief executive officer, according to voting result of the annual general meeting released on Tuesday.

The company held its 27th AGM (annual general meeting) on Monday in which 99.75 per cent shareholders voted in favour of the special resolution to appoint "Akshaya Moondra as chief executive officer of the company".

Moondra's appointment comes at a time when the company is reeling under debt of close to Rs 2 lakh crore and has been incurring huge losses.

VIL has posted marginal narrowing of its consolidated loss at Rs 7,296.7 crore during the April-June quarter compared to the year-ago period, as tariff hikes boosted its realisations. The telco's loss stood at Rs 7,319.1 crore in the year-ago quarter.

He will have to handle key tasks of fund raise to support company operations and capital expenditure.

Moondra will replace Ravinder Takkar who completed his three-year term as managing director and CEO of Vodafone Idea.

Takkar was appointed MD and CEO of the company on August 19, 2019, for a three-year term which ended on August 18.

Shareholders approved appointment of Takkar as non-executive director of Vodafone Idea (VIL) with 99.86 per cent vote in favour of the special resolution,

All the nine resolution placed in the AGM were approved by the shareholders including re-appointment of Sunil Sood as a director of the company.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Voda ideaVodafone Idea

First Published: Aug 30 2022 | 9:09 PM IST

Next Story