In a change of guard at Aditya Birla group flagship firm Idea Cellular, Himanshu Kapania has taken over as Managing Director replacing Sanjeev Aga.
"Himanshu Kapania has taken over as the Managing Director of the company effective from April 1, 2011, pursuant to relinquishment of office of Managing Director by Sanjeev Aga," Idea Cellular said in a filing to the BSE.
Kapania was the Chief Operating Officer of Idea Cellular, which is facing a tough time in completion of its merger with Spice Telecom despite acquiring it nearly two years ago.
Aga, who is credited with launching Idea Cellular, will continue as a director on the board of the company. He was appointed as the Managing Director of Idea Cellular for a period of five years effective from November 1, 2006.
According to the company's 2009-10 annual report, Aga received Rs 6 crore in remuneration (inclusive of salary, benefits, bonuses and pension). Aga was paid a sum of Rs 1.84 crore as a performance incentive in that year. He is on the board of 6 other companies and the Vice Chairman of the Cellular Operators Association of India (COAI).
The company has recently increased the maximum number of directors from 12 to 16.
In November 1998, Aga was appointed as CEO of the Aditya Birla Group's telecom JV, Birla AT&T Ltd. He led the company through a period of fast-paced change, through expansion and acquisition, and merger with Tata Cellular, to be CEO of what became Idea Cellular.
From May 2005 until October 2006, Aga was Managing Director of Aditya Birla Nuvo Ltd, a diversified conglomerate with manufacturing and service sector businesses.
