Shri Rajesh Rai Takes Over Charge As CMD Of ITI Limited

The Government of India has appointed Shri Rajesh Rai to the post of Chairman and Managing Director of ITI Limited for a period of five years with effect from the date of his assumption of charge of the post i.e. 21st February 2023, till the date of his superannuation, or until further orders, whichever is the earliest.

In accordance with this Government of India order dated 20th February 2023, Shri Rakesh Chandra Tiwari, Director Marketing has relinquished the additional charge of the post of Chairman and Managing Director w.e.f. 21st February 2023 and will remain Director-Marketing.

Shri Rajesh Rai is a seasoned telecommunication domain expert having more than 30 years of rich experience in Telecommunication Industry. Prior to assuming charge as CMD of ITI Limited, Shri Rajesh Rai served as General Manager of Mahanagar Telphone Nigam Limited (MTNL), Mumbai. Shri Rajesh Rai also has held prestigious post of Chief Technology Officer of Mahanagar Telephone Mauritius Limited (MTML) in Mauritius for 12 years, where he was responsible for CDMA, GSM, 3G & 4G Network Deployment, and customer acquisition.

Shri Rajesh Rai holds a Bachelors Degree of Engineering in Electronics from Madan Mohan Malviya Engineering College, Gorakpur, M.Tech (Computer Science) from Jawaharlal Nehru University, and MBA from FMS, Delhi University.

Speaking on this occasion, Shri Rajesh Rai, the new Chairman and Managing Director of ITI Limited said, "I am delighted to take over as CMD of ITI Limited. ITI Limited has a rich legacy of being the first PSU of independent India and is now part of Indian technological folklore where almost every household used to possess a telecom handset manufactured by ITI.

Speaking on the road that lay ahead, he said "I am delighted to join a Company which has pan India presence and one which has the potential to be a top-notch Company in telecom domain. Having looked at the state-of-the-art infrastructure ITI Limited has and its deep telecom manufacturing expertise, I am looking forward to be a part of this exciting transformation process of ITI Limited. I would put my heart and soul to ensure that ITI surges ahead banking on 'Atmanirbhartha' and 'Make-in-India' platforms. The responsibility I have been entrusted is very challenging and I look forward to add value and lead this team of committed professionals."

"My focus area will be to ramp up production and do whatever it takes to increase revenue of the Company and make it one of the best places to work with for employees", Shri Rajesh Rai said.

Shri Rajesh Rai brings a fresh and renewed energy to ITI Limited as his illustrious career demonstrates that wherever Shri Rajesh Rai took charge, he has left an indelible mark by adding lasting value.

Shares of ITI Limited was last trading in BSE at Rs. 97.00 as compared to the previous close of Rs. 97.75. The total number of shares traded during the day was 15359 in over 451 trades.

The stock hit an intraday high of Rs. 98.45 and intraday low of 96.45. The net turnover during the day was Rs. 1496029.00.

Source : Equity Bulls

Keywords

ITI INE248A01017 Appointment Chairman MD