Yesterday, Reliance Communications (RCom) announced the strategic transformation of the brand, and even applied announced the cancellation of Aircel merger. Today, the Board of Directors of Reliance Communications Limited (RCom) at its meeting held on October 2, 2017, in Mumbai, expanded its board by inducting its senior executives.
Punit Garg, who is currently the president of Telecom Business has been elevated to the Board as Executive Director of the company. Punit has been part of the company's leadership team for the last 17 years and has held several positions in the company, including CEO of Indian and Global Enterprise Business, Corporate Strategy and Regulatory Affairs.
Manikantan V., the Chief Financial Officer (CFO) has also been elevated to the Board as Director and CFO of the Company. Manikantan has been with RCom for the last 22 years and has held several senior positions.
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 at RCom has been elevated as Executive Director of Reliance Telecom Limited, a subsidiary of the Company. Gurdeep has been with the Company for the last 6 years.
Lastly, William (Bill) Barney, Co-CEO of the company, also serves as Chief Executive Officer and Director of Global Cloud Xchange, a subsidiary of the company.
RCom, yesterday announced that it's looking to adopt a 4G focused mobile strategy through optimization of its spectrum portfolio. In addition, the operator even lapsed the merger with another struggling telecom operator Aircel.
“The unprecedented competitive intensity in the Indian telecom sector, together with fresh policy directives adversely impacting bank financing for this sector, have also seriously affected industry dynamics. As a result of the various factors aforesaid, the merger agreement has lapsed. The Board approved the same,” said the company on the merger cancellation with Aircel. As of now, RCom is looking to reduce its massive debt.