Tata Communications, on Wednesday, announced the election of Renuka Ramnath as the new Chairperson of its Board of Directors and the successor to Subodh Bhargava.
An Independent Director of the Board since December 2014, Ramnath is a doyen of corporate finance and a private equity veteran with an unparalleled track record. After a very successful stint in the ICICI Group for close to two-and-a-half decades, she set up Multiples in 2009. Today, Multiples is a USD 1 billion Independent Private Equity platform that has the rare distinction of being backed by marquee Indian and global institutions including pension funds, sovereigns, and banks. Ramnath draws immense satisfaction from the fact that she has over several years guided and supported entrepreneurs to build successful businesses and create valuable enterprises.
“I feel honoured and privileged to chair the Tata Communications Board in these exciting times where technology plays such a critical part in defining new business imperatives for enterprises, irrespective of scale or geography,” she said.
“During my time so far on the Board, I have seen first-hand how Tata Communications has successfully transformed its own business and those of its customers. The company has a very strong value system and business ethos - values that are intrinsic to the Tata group. The company is on a robust growth trajectory, and I look forward to working with the Board and the management team on building sustainable value for all our stakeholders. I also thank Subodh Bhargava for his stewardship of the company and his guidance over the years,” added Ramnath.
Commenting on Ramnath’s election, Vinod Kumar, Managing Director and Group CEO, Tata Communications said, “This is a significant and exciting appointment for us. Renuka holds a very strong record in creating wealth and value for businesses of all kinds. Having her as our Chairperson enables us to continue to ensure Tata Communications generates positive impact and delivers value to all our stakeholders including our customers, partners, and shareholders.”
Subodh Bhargava, the previous Chairman of the Board of Tata Communications stated: “It has been a privilege to have been the Chairman of the Board for the last 12 years and to have witnessed the transformation of this organisation from a national player to a global communications leader with customers across the world. Tata Communications is an ideal example of a successful Government-Private partnership and my thanks to both the Government and the Tata Group for supporting me during my tenure as Chairman.”
“Tata Communications has tremendous potential and I wish Renuka and everyone at Tata Communications all success in their future endeavours,” Bhargava further said.