Reliance Communications’ CEO Vinod Sawhny steps down
New Delhi: Reliance Communications Ltd’s chief executive Vinod Sawhny has stepped down, the company informed the Bombay Stock Exchange on Saturday. The announcement comes two weeks after RCom announced the merger of its wireless business with Aircel Ltd.
The company, in the statement addressed to BSE, cited Sawhny’s personal reasons for the step. “We wish to inform you that the Company has accepted request of Mr. Vinod Sawhny to step down as Chief Executive Officer of the Company with effect from September 30, 2016 to enable him and his family to relocate to New Delhi for personal reasons,” the statement said.
The company added that William (Bill) Barney and Gurdeep Singh would take over responsibilities and function as co-CEOs with immediate effect.
Last week, chairman Anil Ambani while addressing the shareholders at the annual general meeting had said that his telecom business has achieved a “virtual merger” with elder brother Mukesh Ambani’s Reliance Jio Infocomm Ltd.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.