Bharti announces new apex organisational structure

New Delhi, Mar 16, (UNI) Aiming to build a diversified cnglomerate of the future, Bharti Enterprises today announced a new apex level strategic organisational structure and inducted four group lead directors who will oversee all the business interests of the group under the parent company.

Mr Sunil Bharti Mittal, in his role as the Chairman and Group CEO of Bharti Enterprises will be assisted by four group lead directors Mr Rakesh Bharti Mittal, Vice Chairman Bharti Enterprises, Mr Akhil Gupta, Managing Director, Mr Rajan Bharti Mittal, Managing Director and Mr Badri Agarwal, Director. In addition there will be nine group corporate directors.

Mr Mittal will pass on his operational responsibility in Bharti Airtel operations from April 1, 2007. He will continue to be the Chairman&Managing Director of Bharti Airtel Ltd. Rajan Bharti Mittal, who moves on as the Managing Director Bharti Enterprises and Group Lead Director Retail, Wholesale and New Projects, will relinquish his position as Joint Managing Director of Bharti Airtel from April 1, 2007.

Akhil Gupta who will now be Managing Director, Bharti Enterprises, Group Lead Director of Telecom and Chairman of the Group Finance&Audit Council will be passing on the position of Group CFO from April 1, 2007.

The group lead directors have been assigned specific areas and will review the performance of the respective businesses, maintain relationships with joint venture partners and provide all necessary assistance from the group level, including funding, external relations etc.

The Group/Corporate Directors will take ownership of key functions across the businesses of Bharti.

They will provide functional vision, strategic direction and support to group companies, leveraging synergies and best practices.

They will develop a medium to long term strategy for their respective functions and will be a group resource for all functional teams.

The Group/Corporate Directors includes Mr Ashok Juneja, Corporate Director - Technology, Mr Daljit Singh, Group Director - Human Resources, Mr Hemant Sachdev, Group Director - Brand&Corporate Communication, Mr Prakash Nene, Corporate Director - Finance (Emerging Businesses), Mr S L Narayanan, Corporate Director - Finance (Telecom&Retail), Ms Vijaya Sampath - Group General Counsel&Company Secretary, Mr Viresh Dayal, Corporate Director - Projects, Group Director - Strategy&Business Development (TBA) and Group Director - Internal Assurance (TBA).

''Our vision has always driven us to invest, build and grow businesses that make a positive difference to the lives of people and partner India's economic development process. The new organisation structure and governance model takes this forward and blends Bharti's entrepreneurial ethos with an enhanced professional culture,'' Mr Mittal said.

It further empowers our business leaders, strengthens accountability and is designed for Bharti Enterprises to focus on overall strategic direction, leadership development and leveraging synergies taking another significant step towards a conglomerate of the future, he added.

The new organisation structure reflects Bharti's strategic intent to lead, build and grow in varied business of telecom, retail and wholesale, communication and media devices, insurance and financial services, agri business, BPO/software and the Bharti Foundation.

The new structure will be effective from April 1, 2007.

Bharti Enterprises will also be responsible for evaluating new business opportunities, mergers and acquisitions and strategic alliances for the group.

Bharti has also institutionalised three group level governing bodies to reinforce its best-in-class governance model. These are the Bharti Management Board, the Group Finance&Audit Council and the Bharti Management Council.

UNI