Top management exit at Aircel

Posted on | April 3, 2007 |

ET reports that India’s fifth largest GSM service provider Aircel Cellular has lost its top management brass. Aircel CEO Jagdish Kini and its CFO Ganapathy Subramaniam have tendered their resignations while the company’s legal council head Rajinder Singh is also set to leave.

The article speculates that the exits are related to Hutch-Essar’s former deputy managing director Sandeep Das taking over Maxis’s CEO in Malaysia.

Malaysian telecom major Maxis had acquired a 76% controlling stake in December 2005 for $1.1 billion in partnership with the Reddy family.

• Maxis has invested Rs 2,700 crore in Aircel during the last fiscal
• It has announced an invest over Rs 2,000 crore in the company in 2007-08
• Targets reaching 8 million subscribers during this period
• Aircel currently offers services in 9 telecom circles
• Has acquired licenses in 14 new circles in the country
• It is expected to have a pan-India presence by 2009
• Was awarded national and international long distance licenses recently

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