Idea gives deputy MD Ambrish Jain three-year extension

KOLKATA: Idea Cellular has just given a three-year extension to deputy managing director Ambrish Jain, who was due to retire shortly, two people aware of the matter told ET.

Jain was considered “too valuable to be potentially lost to competition, even post-retirement”, amid rising competitive intensity triggered by Reliance Jio Infocomm’s entry, one of the people cited said.

Jain, who became deputy MD more than five years ago, is seen internally as someone with the requisite leadership skills and strategic bandwidth to counter Jio in a fiercely competitive market, especially at a time when incumbent carriers are facing the bruising impact of the newest 4G operator's free services.

A senior company executive confirmed Jain’s extension but declined to share his earlier retirement date. An email to Idea remained unanswered at press time.