Subsequent to the closing of the Unitech Wireless agreement, Telenor will have management participation in the Indian mobile operator. Telenor will hold four out of seven seats on the Unitech Wireless Board of Directors, and nominate candidates for the Managing Director and Chief Financial Officer positions, and appoint the Chief Marketing Officer. The Managing Director is the company's top executive position. The nominated candidates for the positions as Managing Director and Chief Financial Officer at Unitech Wireless are subject to security approvals required in India.
"I am very pleased that Stein-Erik Vellan has accepted the nomination for the important position as MD of Unitech Wireless. Vellan has delivered an outstanding performance during his tenure at Telenor Serbia and is an experienced and highly capable nominee for the role as top executive at Unitech Wireless. I am also delighted that Johan Lindgren has accepted to be the nominee for the CFO role at the company, as he also is among our most experienced and skilled leaders" said Jon Fredrik Baksaas, President and CEO of the Telenor Group.
During his two-and-a-half years in Serbia, Vellan has managed Telenor Serbia through an important transitional phase. The company delivered strong organic growth and good margins for the fourth quarter of 2008. Prior to his posting in Serbia, Stein-Erik Vellan was part of Telenor's Nordic management, successfully heading the Norwegian business market division. The nominee for the position as Managing Director aims to bring with him David Meneghello, currently CMO in Telenor Serbia.
In Sweden, Johan Lindgren will step down as CEO to take on the role as nominee for the CFO position. During his tenure at Telenor Sweden, Lindgren has succeeded at maintaining a strong focus on strengthening the company's position and visibility in a very competitive marketplace. He has extensive experience as CFO, both from the telecommunications and TV industry.
The nominees (Vellan and Lindgren) and the appointee (Meneghello) will strengthen the present management team at Unitech Wireless. The current management will continue to serve the company.
The nominated executives will take up their responsibilities in New Delhi following the closing of the transaction and upon receipt of requisite approvals in India.
For further information, please contact:
Pål Kvalheim, Vice President Communication, Telenor Group, Tel: +47 970 44 970
Esben Tuman, Information Manager, Telenor Asia, Tel: +66 859 184 111
