VIL shareholders approve Moondra as CEO

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. PTI