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Uninor CEO Yogesh Malik Resigns; Sigve Brekke Is Acting CEO

YogeshMalilk
Uninor CEO Yogesh Malik has resigned from the company, citing to personal reasons, Telenor has announced. The company has begun the process of selecting a new CEO, and Sigve Brekke, who Malik had taken over from, is going to be acting CEO of the company for the time being. Brekke is the Head of Telenor Group’s Asia operations.

Malik leaves exactly 5 months after being appointed CEO, having joined the company as its COO in 2011. He had previously held executive positions at Telenor Group headquarter in Norway, and has served as Chief Technology Officer (CTO) of Telenor Group companies in Ukraine and Bangladesh. Malik had also worked with AT&T, Tata and Ericsson in India and Sweden and for the international mobile operator TIW (now Vodafone) in Canada, China, Brazil and the Czech Republic.

Uninor has 32.35 million mobile connections in India, of them 22.7 million active in September 2013. Last month, it reported a significantly reduced EBITDA loss, and improved revenue growth by 23% in the six circles. The company broke even in five of its six operational circles, with ARPU (Average Revenue Per User) for India increasing to Rs 100, from Rs 97 in the previous quarter and Rs 89 in the same quarter last year. The company is targeting overall break-even this calendar year.  

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