Vodafone Idea falls 6% as CEO Balesh Sharma resigns

Ravindar Takkar has been appointed as MD and CEO for a period of three years.

Vodafone Idea shares slid 6 per cent to Rs 5.60 in early morning trade on the BSE on Tuesday after Balesh Sharma stepped down as company’s chief executive officer (CEO) with immediate effect due to personal reason. Ravindar Takkar has been appointed as managing director and CEO for period of three years.

Over the past one year, Vodafone Idea has continued to be plagued by rapidly falling stock prices, dropping 83 per cent from level of Rs 32, against 2 per cent decline in the S&P BSE Sensex.

Sharma will be taking up a new role with Vodafone Group, which