Vodafone-Idea combine names Kumar Mangalam Birla as non-executive Chairman, Balesh Sharma as CEO

Idea Cellular and Vodafone Group on Thursday announced the new leadership team of the soon-to-be merged entity that will have Kumar Mangalam Birla as the non-executive Chairman and Balesh Sharma as the Chief Executive Officer (CEO). Balesh Sharma, currently serving as Chief Operating Officer (CCO) of Vodafone India, will handle the combine business plans of the merged entity, and its execution and integration. The latest merger will make the new Idea-Vodafone entity as the country's biggest telecom operator with a market share of around 35 per cent.

Aditya Birla Group Chairman Kumar Mangalam Birla and Vodafone Group Chief Executive Vittorio Colao, in a combined statement said: "The team has extensive operational experience and is an excellent blend of expertise from both the 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 the completion that the two businesses will cease to operate as distinct and competing entities," Idea Cellular in regulatory filing said.

Besides, Akshaya Moondra, currently Chief Financial Officer at Idea, will serve as the CFO of the merger entity, while Ambrish Jain, currently Deputy Managing Director at Idea, will handle circle operations and service delivery. The merger is expected to complete in the first half of the current calender year.

It may be recalled that the two companies in 2017 had announced they would combine the operations to create the country's largest telecom operator worth over $23 billion. The Vodafone-Idea merger - which is set to dislodge the numero uno player Bharti Airtel - was imminent as the incumbent operators have been bruised by aggressive offers from newcomer Reliance Jio, which triggered a tariff war in the Indian telecom market. The cheap data plans and unlimited call facility offered by Jio not only forced several users to change their mobile operators but also led to the winding up of four telecom companies, including RCom, Tata Teleservices, Telenor and Aircel.