Balesh Sharma has resigned from the position of Vodafone Idea CEO and will be replaced by Ravinder Takkar. Takkar is currently the Vodafone Group's representative and will be appointed as the new CEO with an immediate effect. The stock price of Vodafone Idea plunged over 7.5 percent today and closed at Rs 5.95.
"The Board of Vodafone Idea today announced that it has accepted Balesh Sharma's request for personal reasons to step down as CEO of Vodafone Idea. Balesh will be taking up a new role with Vodafone Group, which will be announced in due course," the statement added.
Balesh Sharma, who was earlier the COO of Vodafone India, was leading Vodafone Idea since the completion and has cited "personal reasons" for his resignation.