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Sterlite Tech climbs on appointing Chris Rice as CEO of Access Solutions Biz

Capital Market 

Sterlite Technologies (STL) advanced 2.25% to Rs 220.50 after the company announced the appointment of Christopher Rice as the Chief Executive Officer (CEO) for its Access Solutions Business.

STL is currently expanding its capabilities across digital networks by building core solutions in the edge access area, both on the wireline and 5G wireless side. The company has launched the Access Solutions Business Unit focusing on Open RAN, 5G, programmable FTTx, and controller/orchestration software. Mr Rice is a seasoned technology executive who will lead this BU and advance STL's growth plans.

Prior to STL, Chris Rice was associated with AT&T where he delivered on a multi-year technology strategy and vision for both the network and the underlying system's evolution. He also led AT&T's pivot to software-defined networking (SDN), leading the team that built the fundamental automation and platform capabilities to drive this shift.

Sterlite Technologies is a leading end-to-end solutions provider for global digital networks. On a consolidated basis, the company's net profit grew 72% to Rs 85.97 crore on a 9.3% rise in net sales to Rs 1,314.44 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, March 02 2021. 15:33 IST