Bharti Airtel on Thursday announced the restructuring of its board of directors and that of its subsidiary Bharti Infratel.
The changes have been effected in view of the proposed IPO of Bharti Infratel, which is a leading provider of passive telecom infrastructure in India, the company said in a statement on Thursday.
Commenting on the restructuring, Sunil Bharti Mittal, chairman and managing director, Bharti Airtel, said, ?These changes have been effected in line with our strong corporate governance culture and 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. I would also take this opportunity to thank the outgoing directors for their contribution to the board of Bharti Airtel.?
Following the restructuring, Manish Kejriwal and Obiageli Katryn Ezekwesili will join the board of Bharti Airtel. While Kejriwal is the managing partner of Kedaara Capital Advisors, a private equity fund dedicated to India, Ezekwesili is former World Bank VP for Africa and a world-renowned expert on economic reforms and economic governance.
The Bharti Infratel board will be lead by chairman Rakesh Bharti Mittal with other board members being Akhil Gupta (vice-chairman and MD), Bharat S Raut, Jitender Balakrishnan, N Kumar, Sanjay Nayar, Sarvjit Singh Dhillon and Vinod Kumar Dhall.
Bharti Infratel, a subsidiary of Bharti Airtel, deploys, owns and manages telecom towers and communication structures, for various mobile operators across 18 states of India and has been the industry pioneer in adopting green energy initiatives across its tower network.
It has a footprint of over 33,000 towers and holds a 42% stake in Indus Towers ? a joint venture between Bharti Infratel, Vodafone and Idea Cellular.
