Vinod Sawhny quits as RCom CEO

By:
Jason McGee-Abe
Published on:

Reliance Communications (RCom) announces its CEO Vinod Sawhny has quit with immediate effect, citing personal reasons

Sawhny, who joined Reliance Communications in 2014 from Bharti Airtel, resigned on September 30 and has been replaced by Bill Barney and Gurdeep Singh, according to a statement to the Bombay Stock Exchange. Barney oversees Reliance’s enterprise and carrier operations and Singh is the company’s wireless chief. The will both serve as co-CEOs in addition to their present roles.

“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has accepted request of Mr. Vinod Sawhny to step down as Chief Executive Officer of the Company with effect from September 30, 2016 to enable him and his family to relocate to New Delhi for personal reasons," the statement read.

“Mr. William (Bill) Barney and Mr. Gurdeep Singh, who are already working with the Company, will function as acting co-CEOs of the Company with immediate effect.”

The announcement comes just weeks after the company said it was to merge its wireless business with Aircel, creating a business with nearly 200 million customers and an 18.3% market share.

RCom is currently participating in India’s biggest spectrum auction to date, which, according to government officials, saw over $8 billion worth of bids made on the auction’s first day. GTB