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    Bharti Enterprises announces new Apex level Strategic Organization Structure

       Unveils top level structure and governance model designed to build a diversified conglomerate of    the future

    • Bharti Enterprise to invest in, build and grow businesses that make a positive difference to the lives of people and partner India’s economic growth.
    • Reinforces Bharti Enterprises strategic intent to continue to lead in the market, build new businesses and reinforce its best in class governance model. The new apex level structure takes this vision & strategy forward.
    • Bharti Enterprises will be the strategic architect for all businesses of Bharti – Telecom, Retail & Wholesale, Communication & media devices, Insurance & Financial services, Agri business, Realty, software / BPO & Bharti Foundation.
    • Strengthens empowerment & accountability for business leaders and further enhances professionalism. Bharti Enterprises will set overall direction, focus on macro strategies & business reviews and ensure a continued senior leadership pipeline.
    • Sunil Bharti Mittal to lead Bharti Enterprises as the Chairman and Group CEO. Rakesh B Mittal will be Vice Chairman, Rajan B Mittal & Akhil Gupta will be Managing Directors. Group Lead Directors, Group/Corporate Directors to form core of the Bharti Enterprises team.

    New Delhi, March 16, 2007: Bharti Enterprises, India’s leading business conglomerate, today announced a strategic initiative aimed at creating a diversified conglomerate of the future. Bharti Enterprises unveiled its new apex level organisation structure reinforcing its best in class governance model. The new organisation structure reflects Bharti's strategic intent to lead, build & grow in businesses that make a positive difference to the lives of people - telecom, retail & wholesale, communication & media devices, insurance & financial services, Agri business, BPO/software & the Bharti Foundation.

    The new structure strengthens empowerment & accountability for business leaders of individual companies thereby enhancing the existing high degree of professionalism in the group. Bharti Enterprises will be the strategic architect of all businesses of the group and will provide overall direction and macro strategies. Responsibility for business strategy, operations & its results will reside with the business heads of the companies with Bharti Enterprises having a supervisory role. The new structure will be effective April 1, 2007.

    Bharti Enterprises will also be responsible for evaluating new business opportunities, Mergers & Acquisitions and Strategic alliances for the group. In addition, it will ensure a high quality pipeline of top leadership talent and be the custodian of Bharti’s brand values and business interests.

    Announcing the new organisation structure, Mr. Sunil Bharti Mittal said, “At Bharti, 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 organization structure & governance model takes this forward and blends Bharti’s entrepreneurial ethos with an enhanced professional culture. It further empowers our business leaders, strengthens accountability and is designed for Bharti Enterprises to focus on overall strategic direction, leadership development & leveraging synergies taking another significant step towards a conglomerate of the future.”

    Bharti Enterprises has recently diversified into new business areas. After successfully establishing India’s leading telecom services provider - Bharti Airtel and Bharti Teletech - the leader in telecom terminals, Bharti Enterprises is getting ready to take significant strides in new areas such as retail & wholesale, communication & media devices, insurance & financial services, Agri business & the Bharti Foundation.

    Mr. Sunil Bharti Mittal, in his role as the Chairman and Group CEO of Bharti Enterprises, will lead a highly energized and empowered team of entrepreneurs and professionals to ensure all businesses under the Bharti umbrella are on a continuous growth path delivering highest customer & shareholder value. In this endeavour he will be assisted by four Group Lead Directors – Mr.Rakesh Bharti Mittal, Vice Chairman - Bharti Enterprises, Mr.Akhil Gupta, Managing Director - Bharti Enterprises, Mr.Rajan Bharti Mittal, Managing Director - Bharti Enterprises and Mr.Badri Agarwal, Director - Bharti Enterprises. In addition there will be nine Group / Corporate Directors.

    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. These Group / Corporate Directors 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 are:

    • 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. SL 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)
    • Group Director – Internal Assurance (TBA)

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

    In line with his previously stated long term objective, Mr. Sunil Bharti Mittal will pass on his operational responsibility in Bharti Airtel operations from 1st April, 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 1st April, 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 1st April, 2007.

     

    About Bharti Enterprises

    Bharti Enterprises is one of India’s leading business groups with interests in telecom, agri business, insurance and retail. Bharti has been a pioneering force in the telecom sector with many firsts and innovations to its credit. Bharti Airtel Limited, a group company, is one of India’s leading private sector providers of telecommunications services with an aggregate of 37.26 million customers as of end of February‘07, spanning mobile, fixed line, broadband and enterprise services. Bharti Airtel was recently ranked amongst the top 10 best performing companies in the world in the BusinessWeek IT 100 list. Bharti Teletech is the country’s largest manufacturer and exporter of telephone terminals. Bharti has a joint venture with ELRo Holdings India Ltd. – ‘FieldFresh Foods Pvt. Ltd’ - for global distribution of fresh fruits and vegetables. Bharti also has a joint venture - ‘Bharti AXA Life Insurance Company Ltd.’ - with AXA, world leader in financial protection and wealth management. Bharti has recently forayed into the retail business under a company called Bharti Retail Pvt. Ltd. It also has an MoU with Wal-Mart for the cash & carry business.