After Aircel deal failure, RCom changes board composition

Reliance Communications inducted its CEO and the president of its telecom business into its board of directors.

Punit Garg, President, Telecom Business and Chief Financial Officer V Manikantan have been appointed as non-indepedent directors on the company board.

The move comes after the company’s plans to merge with Aircel Cellular fell through and the company is thinking of selling off part of its business or assets to reduce debt.

The board of directors is the representative of shareholders, and is supposed to keep a watch on the activities of the management.

Punit Garg, aged 53 years, is currently President, Telecom Business and is part of the Company’s leadership team since last 17 years. He has held several positions in the Company including CEO of Indian and Global Enterprise business, Corporate Strategy and Regulatory Affairs. Garg has experience of over 32 years in telecom and IT sectors.

Manikantan V, aged 52, is Chartered Accountant. He has been with the company for 22 years and has held several senior positions.

On Sunday, RCom said it is looking at moving to a 4G focused structure to reduce losses.

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. Rangachar has been with the Company for the last 17 years.

Gurdeep Singh, Co-CEO of the Company and CEO of the Mobility
Business, was elevated as Executive Director of Reliance Telecom Limited, a subsidiary of the Company.