Significant structural changes to strongly build its diversified businesses
New Delhi , August 5th , 2008: Bharti Enterprises today announced a strategic restructuring at the apex corporate level. The new structure has been designed to strongly build emerging businesses as well as enhance empowerment to functions and developed businesses.
"We are now embarking on a journey to significantly scale up our emerging businesses and leverage our leadership position in established businesses. Towards this end, we are strengthening the Bharti organization structure and the governance model that will take us further on the path to building one of the most admired conglomerates in India . With the new structure, we will engage functionally with our emerging businesses at a deeper level, empower the developed businesses, strengthen the interface mechanisms of Bharti with the businesses and leverage the group functions effectively." said Sunil Bharti Mittal, Chairman and Group CEO, Bharti.
As a part of new strategic apex level re-structuring, an office of the Chairman & Group CEO has been created with primary focus on seeking growth opportunities, guiding businesses, securing financial health of the group, and growing & developing talent. Rakesh Bharti Mittal and Rajan Bharti Mittal will be the Vice Chairmen & MD of Bharti Enterprises. While Rakesh B. Mittal will also be the co-chairman of Bharti Foundation and enhance focus on social projects, Rajan B. Mittal has been elevated as Vice-Chairman and will focus on Retail, Cash & carry and Realty. The office of the Chairman & CEO will be supported by three Directors – Director, Chairman's office; Director, Corporate Affairs and Director, Shareholder's office.
Akhil Gupta has been elevated as the Deputy Group CEO & MD of Bharti Enterprises. He will take specific charge of the Tower Infrastructure business as the Vice Chairman & MD, Bharti Infratel and also lead the Financial Services and the Software business. He will continue to be on the board of Bharti Airtel. Manoj Kohli, has been elevated as the CEO & Joint Managing Director of Bharti Airtel.
Group functional directors have been further empowered to enable them to co-shape all the businesses of Bharti. The Group Functions will leverage the best practices and synergies across the group businesses to create an environment of partnership and collaboration.
About Bharti Enterprises
Bharti Enterprises is one of India 's leading business groups with interests in telecom, agri business, financial services 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 over 71.7 million customers as of end of June 2008, spanning Mobile services, Telemedia services and Enterprise services. Bharti Airtel has been ranked amongst the best performing companies in the world in the BusinessWeek IT 100 list 2007. Bharti Teletech is the country's largest manufacturer and exporter of telephone terminals. Bharti has a joint venture – Bharti Del Monte India Private Limited (formerly FieldFresh Foods) – with Del Monte Foods India Pvt. Ltd., to offer fresh and processed fruits and vegetables in the domestic as well as international markets. Bharti has joint ventures with AXA, world leader in financial protection and wealth management, for Life Insurance, General Insurance and Asset Management. Bharti has forayed into retail business under a company called Bharti Retail Pvt. Ltd. It also has a joint venture - Bharti Wal-Mart Private Ltd. - with Wal-Mart for wholesale cash-and-carry and back-end supply chain management operations in India .