Bharti Enterprises announces new Apex level Strategic Organization Structure

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.

Source : Equity Bulls

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