Kumar Birla to be chairman of merged Voda-Idea entity; Balesh Sharma CEO

Idea's Akshaya Moondra has been named CFO and his colleague Ambrish Jain COO

Idea Cellular and UK-based Vodafone Group Plc on Thursday announced a total restructuring of the leadership team for the merged business. Vodafone insider and current Chief Operating Officer (India) Balesh Sharma has been named Chief Executive Officer of the merged entity.
 
Sharma, who’s been with the group for more than 15 years across geographies and roles, has been at the forefront of the merger with Idea, sources said. The merged entity will have the largest market share, crossing top player Bharti Airtel’s at close to 30 per cent.
 
Sharma joined the group in 2003 (then Hutch) and has more than 25 years of experience across companies, including Vodafone,  Ricoh, and Xerox. His previous roles included Business Head of Gujarat Circle, CEO of Vodafone Malta, and CEO of Vodafone Czech Republic.
 
If the CEO of the merged entity has been chosen from Vodafone, Idea Cellular executives have got the top finance job as well as that of chief operating officer.
 
Idea CFO Akshaya Moondra will take charge at the combined business in the same designation. Idea Deputy Managing Director Ambrish Jain will take charge as COO of the new company.
 
As decided at the time of the deal, Aditya Birla Group Chairman Kumar Mangalam Birla would be non-executive chairman of the Board of Directors of the merged company.
 
Aditya Birla Group intends to nominate Himanshu Kapania (currently Idea CEO) as non-executive Board member of the merged entity and ‘’draw upon his vast experience in the broader group, with a significant assignment in the group post-merger,’’ a joint statement said.
 
Sunil Sood, who is at present Vodafone India CEO, will join the Vodafone Group Africa-Middle East-Asia Pacific (AMAP) Leadership Team and also help governance through board memberships.
 
The merger is expected to be completed in the first half of the year. Till then, 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, according to a joint statement. It is only upon the completion of the merger that the two businesses will cease to operate as distinct and competing entities, the statement added.
 
“We are pleased to announce the proposed management team for the new company to be created through the merger of Idea and Vodafone India. The team has extensive operational experience and is an excellent blend of expertise from both companies,” said Kumar Mangalam Birla and Vodafone Group Chief Executive Vittorio Colao in a note.
 
Kapania and Sood will continue in their current roles till the merger completes.