Communications technology supplier STL (NSE: STLTECH) has announced that CEO and Director Dr. Anand Agarwal will leave both roles on December 2, 2021, citing “personal interests.” The company’s board has appointed Ankit Agarwal, currently head of STL’s optical business, as managing director, effective immediately, as part of a transition process that will see the creation of a management committee to run the company.
The committee will comprise Ankit Agarwal, CFO Mihir Modi, Chief Human Resource Officer Anjali Byce, and Chief Corporate Officer KS Rao. They will oversee the company with the assistance of the board as well as Chairman and Founder Anil Agarwal.
"I am very proud of everything we have accomplished at STL,” stated Anand Agarwal. “The company is now well positioned for the next phase of growth with a focused strategy and a great leadership team. I have decided to transition and focus on my next endeavor. I am deeply thankful for the support of an exceptional team of over 3000 STLers and guidance from our board and chairman."
"Over the past many years Anand has helped transform the company from a leading optical player to a global technology company. I wish him all the best in his future endeavors and welcome Ankit in his new role to take the company to newer heights," commented Anil Agarwal.
"I am excited and honored to drive the company in its next phase. We are well placed to capture the significant growth opportunities and enable our customers to create advanced digital networks through our four integrated capabilities of optical networking, 5G wireless, network software and system integration services," said Ankit Agarwal.
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