STL enhances its Board with global business leaders

PUNE, India, Jan. 20, 2021 /PRNewswire/ -- STL (NSE: STLTECH), an industry-leading integrator of digital networks, announced the addition of Mr. S. Madhavan and Mr. B.J. Arun to its Board of Directors, as independent Non-Executive Directors and Mr. Ankit Agarwal as a Whole Time Director. Mr. Madhavan, Arun, and Ankit will work closely with the STL leadership team to provide governance and steer the company's strategy of technology-led global expansion.

This strengthening of the board comes in the wake of the end of term of long-serving board members - Mr. Narayanaswamy, Mr. Todarwal, and the stepping down of Mr. Pratik Agarwal. Mr. Narayanswamy and Mr. Todarwal, have been a key part of the STL Board since 2007 and 2003 respectively. They have been instrumental in building robust governance and leading the audit committee, which has contributed to STL's strong performance and growth over the years. Their contributions form an unshakable foundation that will always be cherished. Their current term will end on 31^st March 2021. Pratik has brought in complementary perspectives to the Board from his experience in the Power Industry and global business operations. He will transition from the Board on 20th Jan.

STL's global growth strategy hinges on deep technology expertise in the areas of optical and wireless solutions, service delivery, and software. Mr. Madhavan, Arun and Ankit with their prolific entrepreneurship and industry experience will provide impetus to STL's growth strategy across the globe.

Mr. Madhavan, a fellow member of the Institute of Chartered Accountants of India, has had an illustrious career in accounting spanning consumer, banking, and technology industries. He currently holds directorial positions in some of the top listed companies like HCL Technologies, ICICI Bank, UFO Moviez, and Transport Corporation of India. In his early days after working with HUL for 6 years, he set up a successful indirect tax practice, which got merged with PriceWaterhouseCoopers (PwC). Here he held leadership positions for over 14 years and was instrumental in building a leading tax practice at the firm.

Arun has founded and led multiple successful ventures in Silicon Valley. He founded California Digital, a Linux-based HPC leader, Librato, a software company, and was most recently the CEO of July Systems - a location-based mobile management platform. He was instrumental in scaling these companies and finding synergistic exits by merging them with global technology giants like SolarWinds and Cisco. An industry leader, Arun is currently the Vice Chairman of TiE Global. He has also served as the President of the TiE Silicon Valley Chapter and remains dedicated to fostering entrepreneurship in the technology community.

Ankit has been a driving force behind the international expansion of STL's optical network solutions, establishing its presence in over 100 countries. He joined STL, after starting his career as an Investment Banking Analyst at Deutsche Bank and leading Corporate Strategy at Vedanta Resources. An MBA from London Business School, and a deep believer in innovation and customer-first approach, Ankit leads the Connectivity Solutions Business and drives the development and delivery of next-gen solutions for the world's leading network creators.

Commenting on this announcement, Mr. Anil Agarwal, Chairman, STL, said "We are delighted to welcome Madhavan, Arun, and Ankit to STL's Board. Madhavan is a powerhouse of experience in mentoring some of the biggest and fastest-growing companies, while Arun is a seasoned entrepreneur and has played a key role in building companies in the technology space. Their combined expertise in areas of finance and technology, along with Ankit's direct experience at STL, will provide a solid foundation to establish technology leadership and profitable growth across global markets. We thank Pratik Agarwal for his valuable contribution to STL's growth journey."

About STL - Sterlite Technologies Ltd:

STL is an industry-leading integrator of digital networks.

We design and integrate these digital networks for our customers. With core capabilities in Optical Interconnect, Virtualized Access Solutions, Network Software and System Integration, we are the industry's leading end-to-end solutions provider for global digital networks. We partner with global telecom companies, cloud companies, citizen networks and large enterprises to deliver solutions for their fixed and wireless networks for current and future needs. We believe in harnessing technology to create a world with next generation connected experiences that transform everyday living. With intense focus on end-to-end network solutions development, we conduct fundamental research in next- generation network applications at our Centre of Excellence. STL has a strong global presence with next-gen optical preform, fibre and cable manufacturing facilities in India, Italy, China and Brazil, optical interconnect capabilities in Italy, along with two software-development centres across India and one data centre design facility in the UK.

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