Telecoms giant, Airtel Africa Plc, has said Mr Gopal Vittal would replace its chairman, Mr Sunil Bharti Mittal, who will step down after the company’s annual general meeting in July.
This development is part of the company’s succession plans, the telco said on Wednesday.
Airtel Africa is the continent’s subsidiary of India’s second-largest carrier, Bharti Airtel, where it operates in 14 countries on the continent, including Nigeria, its biggest market.
Mr Sunil Mittal has been the chairman of Airtel Africa since its listing on the London Stock Exchange (LSE) in 2019. The telco entered the African market by acquiring Zain Telecom in June 2010.
Mr Vittal, who is an executive vice-chairman of Bharti Airtel and a non-executive director of Airtel Africa, will become non-executive chairman of the subsidiary. Sunil Mittal’s son, Mr Shravin Bharti Mittal, will take on the role of deputy chairman.
“As deputy chair, [Shravin] Mittal will ensure continuity with the founding family and significant shareholder, and will be the board’s conduit with the Airtel Money Board, on which he serves, and with Airtel Africa’s headquarters in Dubai, where he is based,” said Airtel Africa in a statement to the exchanges.
Mr Vittal’s appointment is by nomination of the controlling shareholder pursuant to the terms of the relationship agreement dated June 17, 2019, between the company, Bharti Airtel, Airtel Africa Mauritius Limited, the majority shareholder and an indirect subsidiary of Bharti Airtel, and Bharti Telecom.
Airtel Africa hailed Mr Vittal as “an established telecoms leader who led Bharti Airtel to a lifetime high revenue market share in an intensely competitive market”.
The outgoing chairman noted that Ms Annika Poutiainen is stepping down as a non-executive director, and thanked her for her time at the company as “a strong advocate of high standards of governance and financial reporting.”
“At the same time, I want to extend my thanks to the board of Airtel Africa for their support to me as chairman,” Mr Mittal said.
“Airtel Africa has a solid strategy and an outstanding leadership team in place, the strength of which is evident in recent results, so I am confident that now is the time for me to step aside as chair. It has been an honour to lead Airtel Africa in this capacity, and I know the company will continue to prosper… I have offered my services and will be available to support the company as requested by the chair,” he said.