Bharti Airtel Names COO Shashwat Sharma As MD And CEO; Vittal Moves Into Bigger Role
Date
10/28/2024 7:45:17 AM
(MENAFN- IANS) New Delhi, Oct 28 (IANS) Leading Telecom Service Provider Bharti Airtel on Monday said that Gopal Vittal, who led the company as Managing Director and CEO for the last 12 years, is being appointed Executive Vice Chairman as part of a structured succession process.
On January 1, 2026, Vittal will move into the role of Executive Vice Chairman of Bharti Airtel. Shashwat Sharma, currently Chief Operation Officer (COO), will be appointed MD and CEO of Bharti Airtel on January 1, informed the company.
While continuing to lead the India business, Vittal will take on broader telecom responsibilities across the group.
Sharma is being appointed CEO designate of the company. He will be responsible for the entire end-to-end consumer business. Vittal will be responsible for mentoring and grooming Sharma to take over as MD and CEO of Bharti Airtel Ltd, said the company.
“I am extremely pleased with the succession and transition plan of leadership at Airtel and there could not have been a better time for Airtel to unveil the new arrangement where change and continuity will go hand in hand,” said Sunil Bharti Mittal, Chairman, Bharti Airtel.
“Empowerment has been an article of faith with me which has resulted in a highly-energised management delivering superior results,” Mittal added.
In a board-level restructuring, Rakesh Bharti Mittal, having served Airtel for 9 years in his current term, will move on to the boards of Indus Towers Limited and Bharti Hexacom Limited. Rajan Bharti Mittal returns to Airtel to be the Bharti Board nominee with immediate effect, said the company.
Airtel has built a winning portfolio of businesses across mobile, B2B, Home Broadband, DTH and digital services. Even in mobile, an intensely competitive space, Airtel has seen its revenue market share grow from 30 per cent to 40 per cent. The company has a market capitalisation of over $100 billion.
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