India's largest telecom player, Bharti Airtel has restructured its board of directors and that of subsidiary Bharti Infratel. The changes have been effected in view of the proposed IPO of Bharti Infratel, said a company statement.
Following this, Rakesh Bharti Mittal will be the chairman of Bharti Infratel while brother Sunil Bharti Mittal will continue to be the Chairman and Managing Director of Bharti Airtel. Akhil Gupta is the Vice-Chairman and Managing Director of Bharti Infratel.
Manish Kejriwal, Former Temasek India chief and Obiageli Katryn Ezekwesili, former World Bank executive have joined the board of Bharti Airtel, as a non-executive independent directors. Presently, Manish Kejriwal is the Managing Partner of Kedaara Capital Advisors LLP, a private equity fund. Obiageli Katryn Ezekwesili is former World Bank Vice President for Africa.
The appointments came as Akhil Gupta, Rakesh Bharti Mittal and Hui Weng Cheong have stepped down from Bharti Airtel board due to the pending IPO of its unit, Bharti Infratel.
Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel said, “These changes 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.”
