VAS major OnMobile announced its chairman Arvind Rao will step down from the
position as part of its 2020 strategy.
However, Rao will continue as the chief executive officer
The decision to step down from the post of chairman is
part of the new governance framework.
HH Haight will be the new chairman. Haight has been a
non-executive director on the Board of the company since 2006 and has over 25
years of experience in leadership and growth of various enterprise companies.
As part of OnMobile’s growth plans and
expansion strategies that are proposed to be rolled out, the board thought it
important that the company moves towards adopting greater governance standards
and global best practices as we grow internationally,” Haight said.
The board decided it was time the corporate
governance strategy and policies of the Company be reviewed and revised based
on the changing needs of the company and expectations of the global economy,
which was supported by a review conducted by its advisors. We believe that once
the new governance framework is in place and adopted, OnMobile will be able to
strengthen its position as a market leader,” Haight added.
Arvind stepping down as Chairman allows him
more time and freedom to focus on building the company and preparing for the
next decade of continued innovation and international growth.
The company is finalizing OnMobile 2020, its
blueprint for this new strategy and will be making several structural changes
to enable the smooth implementation of this plan going forward.
The OnMobile board also appointed Harit
Nagpal as an independent director. Nagpal is the managing director of
Tata Sky and has previously served as the group marketing director of Vodafone
The OnMobile board also set up a corporate
governance committee to review the existing governance framework to analyze and
review the functioning of the current governance structure and put in place a
strong risk management framework, to redesign the existing policies and
procedures for improved internal controls, to develop and initiate formal
succession planning with defined criteria and measurements for the management.
By Telecomlead.com Team