Uninor CEO Yogesh Malik quits; Sigve Brekke is interim CEO
Telenor Group is aiming for operational cash flow break-even within 2013.<br /><br />
New Delhi: Uninor, Norwegian telecom giant Telenor's India unit, today said its chief executive officer Yogesh Malik has quit the company due to personal reasons.
In the interim, Sigve Brekke, who currently heads Telenor Group's Asia operations, has been named as the acting CEO of Uninor.
"Uninor today announced a change in its leadership. The company's CEO Yogesh Malik has resigned from his position owing to personal reasons. The company has already started the process of selecting a new CEO to take up the position," the company said in a statement.
Yogesh made important contributions towards the development of Uninor for the last three years, said Sigve Brekke.
Last month, Uninor had reported narrowing of EBITDA loss and rise in revenue by 23 per cent in the 6 circles it operates.
"The company's performance on all key indicators including ARPU (average revenue per user) and Churn (customer attrition or loss) has improved, with ARPU now reaching Rs 100 and churn reducing to 5 per cent. Uninor has already achieved EBITDA break-even in 5 of its 6 circles," the statement said.
Telenor Group is aiming for operational cash flow break-even within 2013.
"Uninor continues to perform well and we are close to reaching the break-even target. This is the result of a tremendous team effort and the 'winning every day' mindset on all levels of the Uninor organisation. It is this fighting spirit that will ensure that we deliver on the break-even milestone for Uninor within the next months," said Sigve Brekke.
Uninor's pre-paid GSM services are commercially available in the six circles of UP (West), UP (East), Bihar (including Jharkhand), Andhra Pradesh, Maharashtra and Gujarat. Together, these circles account for more than 50 per cent of India's population.