Tejas Networks announces appointment of Mr. N. Ganapathy Subramaniam as the Non-Executive Chairman of the Board effective from May 18th, 2022
Bengaluru, April 22, 2022: Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that Mr. Balakrishnan V, Non-Executive Chairman of the Board of the Company has decided to step down from his position and that the Board has approved the appointment of Mr. N. Ganapathy Subramaniam as the Non-Executive Chairman of the Board with effect from May 18, 2022. Mr. N. Ganapathy Subramaniam is a Nominee Director of Panatone Finvest Ltd.
Mr. Balakrishnan V, after serving as the Non-Executive Chairman of the Board for more than 7 years, has also resigned as an Independent Director effective Apr 23, 2022. Commenting on his association with the Company, Mr. Balakrishnan said, “Tejas Networks is a great company with wonderful founders and I enjoyed every moment working with the team. Consequent to the change in control, Tejas has a bigger platform to build a truly global product company from India. I have expressed my desire to leave and the Board has kindly consented. I wish Tejas all the very best in its future endeavors.”
Mr. N. Ganapathy Subramaniam, the incoming Chairman said, “Bala has done an outstanding job of guiding Tejas Networks in its journey from a startup to India’s first listed deep-technology telecom product company, which is now poised to tap global opportunities. We sincerely thank Bala for his invaluable contributions to the Company’s success and wish him all the best in his future endeavors”.
The Tejas Board expressed its deep appreciation and admiration for the skillful manner in which Mr. Balakrishnan V steered and positioned the company during his tenure. Mr. Sanjay Nayak, CEO & MD said, “working with Bala has been an absolute pleasure and a great learning experience. His sharp sense of business judgement and understanding of corporate governance issues was truly admirable and he instilled a culture of excellence in all aspects of our Company. I am thankful to him for having guided me over the years, and would like to place on record my sincere appreciation for the strong contribution that Bala has made to the success of Tejas Networks.”
Welcoming the incoming Chairman, Mr. Nayak said, “I am delighted that Mr. Subramaniam is taking over as the Chairman of our Board at this exciting stage of our Company. He brings in a rich strategic as well as operational experience, strong domain knowledge and a stellar track record of scaling-up companies from India to global scale. I look forward to his valuable insights and guidance, as we set our sights to tap the global market place.”
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About Tejas Networks Limited
Tejas Networks designs, develops and sells high-performance wireline and wireless networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas products utilize programmable, software-defined hardware architecture with a common software code-base that delivers seamless upgrades of new features and technology standards.
For more information, visit Tejas Networks at http://www.tejasnetworks.com or contact
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Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the industry in which the Company operates. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.