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Bharti, Voda names CEO of merged entity

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Bharti and Vodafone Group on Tuesday said that Bimal Dayal (Chief Executive Officer, Indus Towers) is proposed to be appointed as the CEO of the merged entity of their tower businesses.

This will be in line with the earlier announcement dated April 25 and subject to requisite approvals. The shareholder groups (Bharti and Vodafone Group) said that the merger process of Indus Towers with Bharti Infratel is at an advanced stage of completion.

“Dayal will be responsible for the combined business and will take forward integration of the two companies in preparation of the merger,” Bharti said in a statement.

Earlier, Bhrati Infratel had said that its current Managing Director and Chief Executive DS Rawat was not willing to take up the top job after merger with Indus Towers. Rawat, who will continue to lead the company till the merger, has intended to continue with Bharti group in a senior role, it had said.

The existing leadership teams of both Indus Towers and Bharti Infratel will continue to manage their respective businesses till the merger becomes effective, it said.

Ruia as CFO

It also said Hemant Ruia who is currently CFO of Indus Towers is proposed to be appointed as the Chief Financial Officer of the merged entity.

The merger of the two tower companies will create a pan-India tower company with over 1.63 lakh towers, operating across all 22 telecom service areas in India.

“The shareholder groups look forward to early completion of the merger and move towards successful integration,” it added.

Source: The Hindu