Uninor appoints Yogesh Malik as CEO; Brekke steps down as MD
New Delhi: Norwegian telecom major Telenor's Indian arm Uninor on Thursday announced the appointment of Yogesh Malik as the firm's Chief Executive Officer (CEO).
The company added that Managing Director Sigve Brekke will step down as MD, but will continue to be responsible for all of Telenor affairs in India as the Head of Telenor Group's Asian operations.
"In parallel to being Manager Director of Uninor, Sigve Brekke has also held the position as Telenor Group Head of Asian Operations. When he now steps down as MD of Uninor he will fully focus on this role," the company said in a release.
Brekke will continue to have overall responsibility for Telenor affairs in India as the head of Region Asia and will formally take over as Chairman of Uninor once necessary regulatory clearances are secured, the release added.
"Since he (Malik) joined the company as Chief Operating Officer (COO) in 2011, he has played an instrumental role in establishing Uninor as the most affordable mobile operator," Brekke said.
Previously, he held executive positions at Telenor Group headquarter in Norway and also served as the Chief Technology Officer of Telenor Group companies in Ukraine and Bangladesh.
"It is now time for me to strengthen my focus on further development of Telenor Group's Asian portfolio. Asia represents a strong growth potential, and I believe Telenor is well positioned to capture more than its fair share of this growth," Brekke said on his role as Head of Asian Operations.
Telenor Group will be represented in India through its country office, which will be responsible for the Group's external and strategic affairs here and continues to be headed by its Chief Representative in India Rajiv Bawa, he added.
"Taking responsibility for our Indian operations was always meant to be temporary, but with all the challenges that we faced, my period in India became longer than intended. My time here has been both challenging and rewarding," he said.
Uninor narrowed its operating loss to Norwegian Krone 194 million (about 179.83 crore) for the quarter ended March 31, 2013 against a operating loss of NOK 4,684 million (around Rs 4,342.51 crore) in the same period last year.
The revenues of the company were down 29.83 percent to NOK 708 million (Rs 657.07 crore), compared to NOK 1,009 million (Rs 936.36 crore) in the year-ago period.