New Delhi: Reliance Communications Ltd (RCom) on Monday announced expansion of its board and elevated president of telecom business Punit Garg as executive director and chief financial officer (CFO) Manikantan V. as director.
The decision to elevate Garg and Manikantan was taken at a meeting of the board of directors held Monday, RCom said in a BSE filing. The company expanded its board by inducting senior executives as additional directors, according to the filing.
The move came a day after RCom called off the merger of its wireless services business with Aircel Ltd, citing regulatory delays and opposition from some creditors
Garg, 53, has been elevated to the board as executive director. Garg’s appointment as an additional director is for 3 years. Garg has been part of the leadership team for the last 17 years and has held several positions in the company, including that of CEO of Indian and Global Enterprise business, Corporate Strategy and Regulatory Affairs. Garg has rich experience of over 32 years in telecom and IT sectors.
The company said Manikantan has also been elevated to the board as director and CFO. The appointment of Manikantan, 52, is also for 3 years. Manikantan, a chartered accountant, has been with the company for the last 22 years and has held several senior posts, with an experience of over 29 years. In addition, Suresh Rangachar, who heads the fibre and tower business as Director of Reliance Infratel Ltd (RITL), a subsidiary, has been elevated as executive director of RITL. Rangachar has been with the company for the last 17 years.
Gurdeep Singh, co-CEO and CEO of the Mobility Business, has also been promoted as Executive Director of Reliance Telecom Ltd, a subsidiary of the firm. Singh has been working with the company for the last 6 years. William (Bill) Barney, co-CEO, also serves as chief executive officer and director of Global Cloud Xchange, another subsidiary.
Reliance Communications Ltd, founded by late Dhirubhai Ambani, is the flagship company of the Reliance Group. RCom, an integrated telecom service provider, has a customer base of over 80 million, including over 2.6 million individual overseas retail users.
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.