The management of Videsh Sanchar Nigam (VSNL) has promoted its four chief general managers and company secretary as executive directors (EDs).
M J Wasnikar, C G M (human resources), has been elevated as ED (HR), while K P Tiwari, CGM (Internet), would be the new ED (operations). Hardev Singh, CGM (development) has been promoted as ED (development), company secretary Satish Ranade, who will now have additional charges of legal affairs, is the another ED. Arun Gupta, CGM (finance) has now become ED (finance), VSNL officials said.
The top-level promotions were announced internally in the second week of January, 2002. January 31 was the last day for accepting financial bids from strategic investors and the government announced the deal with the Tatas in the first week of February. "The promotions were due and there is no significance though it happened just before the transfer of management control to the Tata group," senior VSNL officials said.
In fact, the industry has been expecting some top level shakeout in VSNL. But no senior executives, except its finance director, has moved out of the company, according to sources.
Ratan Tata has already announced that the Tatas would offer care and attention to the present VSNL management.
The company's director (finance), R S P Sinha has already stepped down in order to pursue future prospects. Sinha is likely to join the state-owned Mahanagar Telephone Nigam as finance director. Sinha, however, declined to comment on this development.
