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Himanshu Kapania to be non-executive director and vice-chairman of Grasim

will be an advisor to Birla on telecom business as Director, Telecom, Chairman office once the merger is complete, says the source

Press Trust of India  |  New Delhi 

Kumar Mangalam Birla
Kumar Mangalam

plans to give bigger role to and CEO Himanshu Kapania, including first ever position of vice-chairman at after completion of company's telecom business merger with

"Chairman Kumar Mangalam Birla has internally announced that will join board of as a non-executive director and be the vice-chairman of Grasim. This will be the first time in the history of Grasim that a vice-chairman will be appointed," according to company sources.

When contacted, Cellular declined to comment on the development.

Kapania, who has been with the Cellular since 2006, will also be appointed as non-executive director of merged business of India and Idea Cellular. He will be an advisor to Birla on telecom business as Director, Telecom, Chairman office once the merger is complete, the source said.

Birla will lead the new telecom entity proposed to be named as Idea Limited and Balesh Sharma (currently Chief Operating Officer of Vodafone India) will be the CEO.
 

Kapania has been leading operations of Idea Cellular as Managing Director and Chief Executive Officer since 2011.

However, the company has been posting loss since October-December quarter of 2016-17.

In its last financial result before merger with Vodafone India, firm Idea Cellular reported total comprehensive income of Rs 2636 million in the June quarter, mainly on account of one time gain from sale of mobile towers.

Blows from turbulent tariff war was, however, visible on its operational performance.

The company had posted loss of Rs 8.16 billion in the same period a year ago.

Kapania will also be made member of cement and aluminium business review councils, the source added.

First Published: Thu, August 09 2018. 18:08 IST
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