Vodafone Idea proposes new chief executive amidst financial challenges

Vodafone Idea Limited announced a postal ballot seeking shareholder approval for the appointment of Abhijit Kishore as the chief executive officer for a three-year term, effective August 19, 2025. This follows the conclusion of Akshaya Moondra's term. Kishore’s proposed annual basic salary is ₹2,40,00,008, with a ceiling of ₹3,52,00,000, and a flexible allowance of ₹3,19,65,591, with a ceiling of ₹4,68,82,880. He will also be entitled to a Long Term Incentive Plan (LTIP) with a target of ₹6,00,00,000, up to ₹8,80,00,000.

The company highlighted its financial struggles, reporting a loss after tax of ₹274,421 million for the financial year 2024-25. This is attributed to ARPU contraction, significant investment requirements, and the impact of Adjusted Gross Revenue (AGR) dues. Total income for FY25 stood at ₹441,832 million.

Shareholders will vote remotely between October 13, 2025, and November 11, 2025. The company is actively pursuing fund-raising, including an FPO of ₹180 billion, and network expansion to improve its financial position and reduce losses.