Bharti Airtel replaces India CEO Sanjay Kapoor; Gopal Vittal to take over - Angel Broking

Bharti Airtel's CEO for India and South Asia, Sanjay Kapoor, will quit in March amid speculation that the proposed reorganization of India's largest telecom company forced his hand. He will be replaced by Gopal Vittal, group director (special projects), who will take over as the India CEO from March 1, 2013. Vittal had last year joined Bharti Group from Hindustan Unilever. Vittal will report to Sunil Mittal.

Bharti Airtel did not give any reason for the change in the top management but said Kapoor has decided to pursue his future aspirations outside of Bharti. Kapoor joined Bharti Cellular Ltd as its COO in 1998 and soon took over as its CEO to develop Delhi Circle as the foundation stone of Bharti Airtel's growth. Kapoor will continue his association with the Bharti Group and be on the board of Indus Towers Ltd and Bharti Global Ltd.

Vittal, who rejoined Bharti last year after a stint with India's largest consumer goods maker Hindustan Unilever, will focus on increasing market share and margins and also on growing alternate revenue streams such as 3G data and mobile money. Owing to recent run up in the stock price, we maintain our Neutral rating on the stock.

Source : Equity Bulls

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