Uninor CEO Yogesh Malik quits, Sigve Brekke steps in

 

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Yogesh Malik, ex-CEO, Uninor

Uninor’s India CEO Yogesh Malik has resigned from the company and Sigve Brekke, currently head of Telenor Group’s Asia operations has taken the position of acting CEO.

Malik has resigned from his position owing to personal reasons and the company has already started the process of selecting a new CEO.

“Yogesh has made important contributions towards the development of Uninor for the last three years. I thank Yogesh for his contribution to the company and wish him the best in his future endeavors,” said Sigve Brekke.

Last month, Uninor declared its financial results for the quarter. The company has delivered a significantly reduced EBITDA loss and improving revenue growth by 23% in the 6 circles compared to the same quarter last year. The company’s performance on all key indicators including ARPU and Churn has improved, with ARPU now reaching Rs. 100 and churn reducing to 5%. Uninor has already achieved EBITDA break-even in 5 of its 6 circles. Telenor Group has also stated that the ambition of operational Cash Flow break-even within the calendar year 2013 is maintained.

“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 is operational in the six circles of UP(West), UP (East), Bihar, Andhra Pradesh, Gujarat and Maharashtra.

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