Balesh Sharma stepped down as CEO of Vodafone Idea with immediate effect, said the company on Monday, adding that Ravinder Takkar has been appointed as MD as well as new the CEO. Ravinder Takkar, currently Vodafone Group's representative in India, will be appointed as the new MD and CEO with immediate effect, the company said in a statement.
"The Board of Vodafone Idea today announced that it has accepted Balesh Sharma's request for personal reasons to step down as CEO of Vodafone Idea. Balesh will be taking up a new role with Vodafone Group, which will be announced in due course," the statement added.
Sharma has been the CEO of Vodafone Idea since the completion of the merger, and before that was Chief Operating Officer of Vodafone India. He has overseen the successful integration of Vodafone Idea – resulting in the estimated timescale to complete the integration falling from four to just two years, according to The Economic Times.
Kumar Mangalam Birla, Chairman Aditya Birla Group and Vodafone Idea Limited, said, “I would like to thank Balesh for his leadership and the successful integration of the two businesses. Under Balesh's stewardship, Vodafone Idea has realised a significant proportion of the synergies in a much shorter timescale than originally estimated. I wish him every success in his next role."