Tata Communications appoints private equity chief to chair board
Private equity fund founder Renuka Ramnath takes over from Subodh Bhargava as chair of Tata Communications board
Tata Communications has appointed private equity specialist Renuka Ramnath as chair of its board. She has been an independent director on Tata Communications’ board since December 2014.
Ramnath spent 23 years with the investment group ICICI and then founded alternative asset management group Multiples in 2009, where she is still CEO.
She said that Tata Communications “is on a robust growth trajectory, and I look forward to working with the board and the management team on building sustainable value for all our stakeholders”.
Vinod Kumar, managing director and group CEO of Tata Communications, said: “Renuka holds a very strong record in creating wealth and value for businesses of all kinds. Having her as our chairperson enables us to continue to ensure Tata Communications generates positive impact and delivers value to all our stakeholders including our customers, partners and shareholders.”
She takes over from Subodh Bhargava, who has chaired the board for 12 years. He said it was a privilege “to have witnessed the transformation of this organisation from a national player to a global communications leader with customers across the world”.
Ramnath’s private equity company Multiples manages $1 billion of capital, according to its website, raised from Indian and global institutions. Investors include pension funds from Canada and the Netherlands and sovereign funds from the Middle East, as well as development finance institutions, Indian banks and other institutional investors.