Bharti Airtel Restructures its Board of Directors
Changes in view of the proposed IPO of Bharti Infratel
- ● Bharti Infratel Board also restructured; Mr. Rakesh Bharti Mittal appointed as Chairman of Bharti Infratel
- ● In line with high standards of corporate governance set by Bharti Airtel, there will now be separate representation for Bharti and Singtel on the two Boards
New Delhi, September 27, 2012: Bharti Airtel Limited, a leading global telecommunications services provider with operations in 20 countries across Asia and Africa, today announced the restructuring of its Board of Directors and that of its subsidiary Bharti Infratel. The changes have been effected in view of the proposed IPO of Bharti Infratel, which is a leading provider of passive telecom infrastructure in India.
Commenting on the restructuring, Mr. Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel said, “These changes have been effected in line with our strong corporate governance culture and will ensure that Bharti and Singtel have distinct representatives on the Boards of Bharti Airtel and Bharti Infratel. I am confident that these two world-class Boards will continue to guide these companies to greater heights. I would also take this opportunity to thank the outgoing Directors for their contribution to the Board of Bharti Airtel.”
Following the restructuring exercise, the composition of the two Boards would be as follows.
For Bharti Airtel: Mr. Sunil Bharti Mittal (Chairman and Managing Director), Mr. Ajay Lal, Ms. Chua Sock Koong, Mr. Craig Ehrlich, Mr. Manoj Kohli, Mr. Manish Kejriwal, Mr. N. Kumar, Mr. Nikesh Arora, Ms. Obiageli Katryn Ezekwesili, Mr. Pulak Prasad, Mr. Rajan Bharti Mittal, Ms. Tan Yong Choo and Mr. Tsun-yan Hsieh.
Mr. Manish Kejriwal and Ms. Obiageli Katryn Ezekwesili are the new appointees on the Board of Bharti Airtel.
Mr. Manish Kejriwal is the Managing Partner of Kedaara Capital Advisors LLP, a private equity fund dedicated to India. Prior to this, Mr. Kejriwal headed the India office of Temasek Holdings. Ms Obiageli Katryn Ezekwesili is former World Bank Vice President for Africa and a world-renowned expert on economic reforms and economic governance.
For Bharti Infratel: Mr. Rakesh Bharti Mittal (Chairman), Mr. Akhil Gupta (Vice Chairman and Managing Director), Mr. Bharat S. Raut, Mr. Jitender Balakrishnan, Mr. N Kumar, Mr. Sanjay Nayar, Mr. Sarvjit Singh Dhillon and Mr. Vinod Kumar Dhall.
Bharti Infratel, a subsidiary of Bharti Airtel, deploys, owns and manages telecom towers and communication structures, for various mobile operators across 18 states of India and has been the industry pioneer in adopting green energy initiatives across its tower network. It has a footprint of over 33,000 towers and holds a 42 per cent stake in Indus Towers Limited – a Joint Venture between Bharti Infratel, Vodafone & Idea Cellular.
About Bharti Airtel
Bharti Airtel Limited is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 5 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce. Bharti Airtel had over 260 million customers across its operations at the end of August 2012. To know more please visit, www.airtel.com