In a sign of the Vodafone-Idea Cellular merger inching towards a closure, Vodafone India has appointed Manish Dawar as Chief Financial Officer, replacing Thomas Reisten whose term had ended.
Industry sources consider Dawar’s appointment to be important as according to the merger agreement between the companies, Vodafone has the right to appoint a CFO of the merged entity. Dawar, who was previously Group CFO with Den Networks, is in all probabilities to be the first CFO of the company after merger too.
While Vodafone did not comment on future developments, it confirmed the appointment of Dawar in a release.
“Thomas Reisten has made an immense contribution to Vodafone’s growth in India over the last 4 years. We commend and thank him for his many achievements and wish him the very best as he returns to the Vodafone Group. We also warmly welcome Manish to the Vodafone family,” said Sunil Sood, Managing Director & CEO, Vodafone India.
“In these exciting times, he brings a rich experience of working across multiple industries and deep understanding of all aspects of finance. He is a worthy successor to Thomas and I look forward to a successful transition,” he added.
Reisten, who has completed a four-year term, is expected to get another senior posting within the parent group, the company said in a statement.
Dawar’s appointment is effective January 1. Based in Mumbai, he will report to Vodafone India Managing Director & CEO Sunil Sood.