Telecom service provider Telenor is looking for a new CEO for its India operations because Uninor CEO Yogesh Malik has resigned.
Yogesh Malik is leaving the company due to personal reasons, Uninor said. He is the second CEO to resign from an Indian telecom operator. Early this year, Sanjay Kapoor resigned as the India and South Asia CEO of Bharti Airtel. Sistema Shyam Teleservices (MTS India) has also moved its CEO. But it was an internal transfer.
Sigve Brekke, currently the head of Telenor Group’s Asia operations, will take up the position of the acting CEO of Uninor.
Uninor significantly reduced EBITDA loss and improved revenue growth by 23 percent in the 6 circles compared to the same quarter last year. The company’s ARPU reached Rs 100 and churn reduced to 5 percent.
Uninor has already achieved EBITDA break-even in 5 of its 6 circles.