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NEW DELHI: The Indian operations of the world's largest mobile phone company, Vodafone, is undertaking a major restructuring exercise, and creating new posts in its top management here, to become 'future fit', even as the company kick-starts preparation towards a stock market listing.
The company has created two new posts of chief operating officer and chief commercial officer in line with functions held in the UK-based parent company. It is also looking to create a post of director external affairs, as exists in the parent's hierarchy.
The post of chief marketing officer stands dissolved, as Kumar Ramanathan has been moved to a post in the Africa, Middle East, and Asia Pacific group of the global parent, am executive in the telco said. The changes come with 12-15 % salary hike for top management, said a person familiar with the developments.
The hike comes at a time when most of the Indian telcos are curtailing budgets as they bear interest expenses on borrowings and face revenue pressure due to intense competition. "As we continue our endeavours in the next phase of our growth strategy, we have fine-tuned our organisation structure.
This has been done primarily to prepare ourselves to be future fit and also to create and manage career opportunities for the leadership within the organisation. We cannot comment on individual roles and responsibilities," the company spokesperson said.
Vodafone now joins other leading telcos such as Bharti Airtel, Reliance Communications, Tata Teleservices and Aircel, all of whom had undertaken major restructuring exercises last year by merging business verticals and reducing employee headcount.
All telcos are focusing on cost-cutting measures to boost efficiencies as they fight multiple challenges of high debt burdens, slowing growth and high marketing spends amid cut-price tariffs.
Under the new structure, Sunil Sood will become COO from director business operations of West and South regions while Sanjoy Mukerji will take over as the chief commercial officer, from his current role as director, North and East.
TOI
The company has created two new posts of chief operating officer and chief commercial officer in line with functions held in the UK-based parent company. It is also looking to create a post of director external affairs, as exists in the parent's hierarchy.
The post of chief marketing officer stands dissolved, as Kumar Ramanathan has been moved to a post in the Africa, Middle East, and Asia Pacific group of the global parent, am executive in the telco said. The changes come with 12-15 % salary hike for top management, said a person familiar with the developments.
The hike comes at a time when most of the Indian telcos are curtailing budgets as they bear interest expenses on borrowings and face revenue pressure due to intense competition. "As we continue our endeavours in the next phase of our growth strategy, we have fine-tuned our organisation structure.
This has been done primarily to prepare ourselves to be future fit and also to create and manage career opportunities for the leadership within the organisation. We cannot comment on individual roles and responsibilities," the company spokesperson said.
Vodafone now joins other leading telcos such as Bharti Airtel, Reliance Communications, Tata Teleservices and Aircel, all of whom had undertaken major restructuring exercises last year by merging business verticals and reducing employee headcount.
All telcos are focusing on cost-cutting measures to boost efficiencies as they fight multiple challenges of high debt burdens, slowing growth and high marketing spends amid cut-price tariffs.
Under the new structure, Sunil Sood will become COO from director business operations of West and South regions while Sanjoy Mukerji will take over as the chief commercial officer, from his current role as director, North and East.
TOI
