Major reshuffle at Anil Ambani led Reliance Communications day after merger with Aircel called off

By: | Published: October 3, 2017 3:27 AM

Reliance Communications (RCom) on Monday elevated two of its old timers and senior officials — president of telecom business Punit Garg and chief financial officer (CFO) Manikantan V — to the group’s board of directors.

Reliance Communications, Reliance Communications reshuffle, Anil Ambani, Reliance Communications Aircel merger, Reliance Aircel Merger, RCom, telecom business, Manikantan V, Aircel, Maxis group, Reliance Infratel, mobility business, RITLThe development comes a day after the company called off the plan to merge its wireless business with Aircel.

Reliance Communications (RCom) on Monday elevated two of its old timers and senior officials — president of telecom business Punit Garg and chief financial officer (CFO) Manikantan V — to the group’s board of directors. The company’s board of directors in a meeting on Monday inducted the two senior executives. While Garg has been made executive director, Manikantan has been elevated to the post of director, RCom said. Both the appointments are for a period of three years. The development comes a day after the Anil Ambani-led company called off the merger plan of its wireless business with Malaysia’s Maxis group-owned Aircel. The merger was crucial to the debt restructuring plans of the company, which aimed at reducing its Rs 45,000-crore debt by Rs 20,000 crore through the merger.

Garg, who has been part of the company’s leadership team since the last 17 years, has held several positions, including CEO of Indian and global enterprise business, corporate strategy and regulatory affairs. Manikantan, too, has been working with RCom for the last 22 years and has held several senior positions.

Besides, RCom elevated Suresh Rangachar, who heads the fibre and tower business of its subsidiary Reliance Infratel (RITL), as executive director.
At present, he is a director in RITL and has been with the company for the last 17 years.

RCom’s co-CEO Gurdeep Singh, who is also the CEO of the mobility business, has been promoted as executive director of Reliance Telecom, a company subsidiary. Singh has been with the firm for the last six years.

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