Gopal Vittal is currently the Managing Director (MD) and Chief Executive Officer (CEO) of Bharti Airtel. His term was scheduled to end in the current financial year. But, Bharti Airtel shareholders have reappointed Gopal Vittal as the MD of the company for five years starting February 1, 2023. Airtel shared the development with the stock exchanges on Saturday.
Over 97% of votes poured in favour of Gopal Vittal to be reappointed for his role. Vittal has been the CEO of the company since February 1, 2018. Now, it has been confirmed that he will continue with the position until at least January 31, 2028. Vittal's fixed pay will be Rs 9.6 crore per annum or another amount that may be determined by the board of directors of the company.
It makes sense to retain Vittal as the MD and CEO as he has braved the company through one of the most difficult phases for the Indian telecom industry, and right now, Airtel is the only other profitable company apart from Jio amongst the telecom service providers in India. Vittal was clearly the choice shareholders were going to count on for making them money over the long run. Airtel's strategy under Vittal of building a premium brand that's also enterprise services driven was the right move, and it has paid off for the company as well as its shareholders.