RInfra re-designates Lalit Jalan as CEO

Reliance Infrastructure Monday said it has re-designated its whole-time director Lalit Jalan as Chief Executive Officer but he will not be a part of the company board.

New Delhi: Reliance Infrastructure Monday said it has re-designated its whole-time director Lalit Jalan as Chief Executive Officer but he will not be a part of the company board.

In a filing to the BSE, the Anil Ambani-led company said, "With a view to bifurcating the executive responsibilities from the board membership, Lait Jalan and S C Gupta have stepped down from the board".

Gupta has been working in the company as its Director, Operations.

Reliance Infra's Board, which met Monday, decided to make the changes.

"Lalit Jalan has been designated as Chief Executive Officer of Reliance Infrastructure and S C Gupta has been designated as Chief Executive Officer of Engineering, Procurement and Construction business of Rifra," it said.

Meanwhile, former Nuclear Power Corporation Chairman and Managing Director (CMD) V K Chatruvedi and ex-CMD of Punjab National Bank S S Kohli have joined Reliance Infrastructure Board as Independent Directors.

It also said former CMD of Bharat Heavy Electricals Ltd will join the Borad shortly as independent director.

"In accordance with the corporate governance policy of the Group and in line with the recommendatory provisions of the listing agreement, Gen V P Malik, S L Rao and Leena Srivastava have completed three terms of three years aggregating nine years and consequently stepped down from the Board of the Company," it said.

Reliance Infra's scrips were trading at Rs 527.70 towards the end of day's trading at the BSE, down 4.72 percent over the previous closing.

PTI

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