VSNL board appoints N Srinath as managing director
February 2, 2007

At a board meeting held on February 2, 2007, VSNL announced the appointment of N Srinath as managing director of the company and chief executive officer of VSNL group of companies.

In his earlier capacity as executive director, he was responsible for the re-engineering of VSNL's business model to meet the challenges in a de-regulated and fiercely competitive marketplace. Srinath has played a pivotal role in the transformation of VSNL from a domestic player to India's truly multinational telecom company, with the acquisition of TGN and Teleglobe in 2005-06.

Subodh Bhargava, chairman, VSNL commented, "This year, VSNL crosses a significant milestone as it commemorates five years of a successful partnership between the government of India and the Tata Group. I take immense pride in announcing Srinath's appointment as managing director." He further added, "Srinath has made a remarkable contribution in fuelling VSNL's global thrust and business reorientation. We have tremendous confidence in his capabilities and are sure that under his leadership VSNL will continue to achieve greater success.'"

Kishor Chaukar, managing director, Tata Industries said, "On behalf of all shareholders, the Tata Group welcomes the appointment of Srinath as managing director. VSNL has gone through one of the most remarkable turnarounds in recent times and has enhanced the interests of its shareholders by re-engineering and de-risking its business model."

Pankaj Agrawala, director, VSNL and joint secretary, department of IT said, "Srinath is a dynamic leader and has excelled in various capacities. His rich experience will help VSNL as it grows, both in India and overseas."