Telecom service provider Sistema Shyam Teleservices CEO Dmitry Shukov resigned from the company and its Chief Financial Officer Sergey Savchenko will take the charge from next week.
In an e-mail sent to employees of SSTL, which operates under MTS brand name, Shukov said "I would like to share with you that I would be moving out of MTS India, effective 7th September 2015. My immediate plan is to go back to Moscow and be with my family."
"I would then proceed to a new country to take up my new role," he added.
Shukov, however, did not share details about his new job.
Russian conglomerate Sistema JSFC has majority stake in SSTL.
He, has been heading SSTL's operation since June 2013. The company provides services in Delhi, Kolkata, Gujarat, Karnataka, Tamil Nadu, Kerala, Uttar Pradesh (West), West Bengal and Rajasthan.
Resignation of Shukov comes at a time when there are discussions between the company and Reliance Communications for a possible merger.
"Nothing special should be read into this development as this is a personal call which I have taken," he said.
Sistema Shyam under Shukov turned OIBDA (Operating Income before Depreciation and Amortisation) positive across all nine telecom circles where it operates.
Following his resignation, SSTL board has decided to elevate Deputy COO and Chief Financial Officer Savchenko as new CEO of the company who has been one of the founding members of Sistema's telecom business in India.
"In the board meeting, held today, the decision to appoint Sergey Savchenko as the new CEO of MTS India has also been taken," Shukov said.
The board has also decided to appoint Elena Peretrukhina as acting CFO.
