Vodafone Essar CEO Asim Ghosh has decided to retire on March 31. Ghosh, who ran the company for the past 10 years, will continue as a non-executive chairman of the board.

Speaking on this, Ghosh said, “The company is in good shape. We have a pan-India network and I think it is the right time to move on.”

Marten Pieters, former CEO of Celtel International, will replace Ghosh. At present, Pieters is holding the position of a director on the board of Luxembourg-based Millicom International Cellular SA.

Under Ghosh, the company had achieved many milestones.

Mr. Ghosh, 61, took over the operations of what is now ‘Vodafone Essar’ in August 1998, when it operated in the Mumbai area with 140,000 subscribers. The company was then known as Max Touch. He joined Hong Kong-based Hutchison Whampoa in March 1991.

The company, which boasts for having more than 63 million subscribers, is India’s third largest telecom operator after Bharti Airtel Ltd and Reliance Communications Ltd. Out of the total 22 circles in the country, the company today is present in the 21 circles.

Asim Ghosh has a B.Tech degree from the Indian Institute of Technology, Delhi and MBA from the Wharton School, University of Pennsylvania.

Essar group chairman Ravi Ruia said: “Asim did a tremendous job as chief executive. He has led from the front to grow the company in size and stature, and built a strong team comprising the finest talent in the industry. I would like to personally thank him for his contribution to the business and will be counting on his continued guidance to the company as a member of the board.”