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Vodafone Idea’s Chief Regulatory Officer P Balaji has resigned effective from January 10, 2024.
The company informed the exchanges about this key personnel change on Wednesday morning.
Balaji has been associated with Vodafone for nearly 15 years. He served as a Director at Vodafone India before joining the senior management as the CRO after Vodafone’s merger with Idea.
Balaji is the second senior personnel to resign from the cash-strapped firm in the recent past. Earlier Ravinder Takkar resigned as Vi’s CEO, replaced by Akshay Moondra, after serving in the role for three years.
The key changes in personnel come at a time when the company is burdened with momentous liabilities, with no hopes for raising additional capital or credit.
businessline reported earlier this week, that the company’s going concern in the near term could also be at risk as banks will soon stop refinancing debt for the firm.
Resignation of top management could indicate mounting pressure on the firm, as it is unable to raise further funds to pay back loans, or invest in the 5G network.
Balaji will be joining Air India as the Group Head- Governance, Regulatory, Complaince and Corporate Affairs under Air India CEO and MD Campbell Wilson. He will be joining the firm from January 11.
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