Uninor CEO Yogesh Malik resigns

Telecom service provider Uninor Thursday announced that its chief executive officer (CEO) Yogesh Malik has resigned his post owing to personal reasons.

The company has already started the process of selecting a new CEO to take up the position. In the interim period Sigve Brekke, who is currently the head of Telenor Group's Asia operations, will take up the position of acting CEO, a company statement here said.

Uninor is a majority-owned subsidiary of Norwegian telecom service provider Telenor Group.

"Yogesh has made important contributions towards the development of Uninor for the last three years," Brekke said in the statement.

Last month, Uninor declared its financial results for the previous quarter. The company has delivered a significantly reduced earning before income, tax, depreciation and amortisation (EBITDA) loss and improving revenue growth by 23 percent in the six circles compared to the same quarter last year, the statement said.

"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 at 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," Brekke said.