Kumar Mangalam Birla steps down from Vodafone Idea board after stake offer

Kumar Mangalam Birla has stepped down as non-executive chairman of Vodafone Idea (Vi) after offering to give up his stake in the debt-ridden telecommunications (telecom) company.

Himanshu Kapania, a telecom industry veteran and a nominee of Aditya Birla Group on the board, will take over the chairman’s post. Kapania served on the global GSMA board for two years and was also chairman of the Cellular Operators Association of India, the company said in a stock exchange notification.

Birla Group Chief Financial Officer Sushil Agarwal has been named additional director on the Vi board. The Vi board approved the leadership changes on Wednesday.