Reliance Communications expands board; elevates Punit Garg to Executive Director

Key Highlights

• RCom has inducted five senior executives to its board.
• Stock price of the company fell after the company decided not to continue with the Aircel merger.
• Punit Garg has now been elevated to Executive Director of the Board.

Reliance Communications on Monday elevated five of its senior executive to board members.

“The Board of Directors of Reliance Communications Limited (RCOM) at its meeting held on October 2, 2017 in Mumbai, expanded its board by inducting its senior executives,” the company said.

The news comes after RCom decided not to pursue its merger with Aircel at its board meet on Sunday.

The stock price of the company closed 3.52% lower to Rs 19.20 per share on BSE Sensex on Friday.

Here are the additions to the board as stated by the company.

The telecom operator said it has elevated Punit Garg to Executive Director of the Board. He had previously held several positions in the company including CEO of Indian and Global Enterprise Business, Corporate Strategy and Regulatory Affairs.

Manikantan V., Chief Financial Officer (CFO) has also been elevated to the Board as Director and CFO of the company. Manikantan has been with the RCom since the last 22 years and has held several senior positions.

In addition, Suresh Rangachar, who currently heads the Fiber and Tower Business as Director of Reliance Infratel Limited (RITL), a subsidiary of the company, has been elevated as Executive Director of RITL. Mr Rangachar has been with the company for the last 17 years.

Gurdeep Singh, Co-CEO of the Company and CEO of the Mobility Business, has been elevated as Executive Director of Reliance Telecom Limited, a subsidiary of the Company. Singh has been with RCom for the last 6 years.

William (Bill) Barney, Co-CEO of the company, also serves as Chief Executive Officer and Director of Global Cloud Xchange, a subsidiary of the company.

Also Read: Reliance Communication says merger with Aircel has lapsed; initiates alternate plan to cut debt