Düsseldorf, Germany – The CEO of the management board of Vantage Towers AG, Vivek Badrinath, has informed the chairman of the supervisory board of Vantage Towers that for personal reasons he does not wish to renew his contract beyond the current term that runs until the end of the year 2023. Vivek Badrinath is also willing to agree on a hand-over of his duties at an earlier point in time if considered beneficial by the supervisory board for the succession process.
Vivek Badrinath, CEO of Vantage Towers AG, says “It has been a great honour to lead Vantage Towers through the intense last three years, from the founding of the company to the IPO and the now aspired continuation under new ownership. All of this has involved a lot of travel and it is my wish to be back closer to my family in France in the future. I am therefore unfortunately not available for the next exciting phase of Vantage Towers’ development, however, will of course remain on board until the succession has been clarified. Vantage Towers has an excellent team and is superbly positioned for the future.”
The supervisory board will now, together with its nomination committee, start a search for a successor. Together with the supervisory board, Vivek Badrinath will ensure an orderly transition and retire from the management board of Vantage Towers no later than end of 31 December 2023 or at an earlier date, should this be agreed.
Rüdiger Grube, chairman of the supervisory board of Vantage Towers AG, says “We very much regret Badrinath’s decision, but respect his wish to be closer to his family again. On behalf of the entire supervisory board, I would like to expressly thank Vivek Badrinath for his outstanding leadership of the company and his contribution to the founding, IPO and successful business development of Vantage Towers.”
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