Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced it has appointed Mr. C.B Bhave as an Independent Director and Mr. Arnob Roy as an Executive Director who will assume the role of Chief Operating Officer (COO), with effect from March 25, 2019, based on the recommendations of the Nominations and Remunerations Committee. With these additions, the Board now has three Independent Directors out of a total of six Directors.
Mr C.B Bhave served as the Chairman of Securities and Exchange Board of India (SEBI), India's capital market regulator, from 2008 to 2011, prior to which he was the Chairman and Managing Director of National Securities Depositories Limited (NSDL) from its inception in 1996 till 2008. Mr Bhave, a 1975 batch Indian Administrative Services (IAS) officer, worked with the Central and State Governments in various capacities and roles and has won several awards from the Government of Maharashtra for his outstanding work in the area of family welfare and excellence in administration.
On his appointment, Mr Bhave said, "While India has seen many successes in ICT services sector there is a need as well as an opportunity for us to build deep-technology, global product companies from India. Tejas Networks has built world-class telecom and data networking products and they have all the ingredients to become a strong global player. It is my pleasure to be a part of Tejas Networks Board and I look forward to contributing to the team's vision".
Mr. Arnob Roy, who has been with the company since inception and served as President Optical Products, has now been designated as the Chief Operating Officer of the company. Mr. Roy has over 30 years of high-technology industry experience in research & development, operations and sales. He holds a Master of Science Degree from the University of Nebraska, Lincoln (USA) and a Bachelor of Technology from the Indian Institute of Technology, Kharagpur.
Mr. V. Balakrishnan, Chairman of the Board of Directors of Tejas Networks said, "I am delighted to welcome Mr. C.B Bhave to our Board. We will immensely benefit from his intellect, insights and rich experience in business and corporate governance. I am also delighted to welcome Mr. Arnob Roy to our Board. Arnob has made significant contributions to the company since inception and we look forward to leveraging his operational experience and track record in steering Tejas forward. I believe that with these additions to the Board, Tejas is well positioned to become a strong global telecom and networking products company".
Shares of Tejas Networks Ltd was last trading in BSE at Rs.165 as compared to the previous close of Rs. 167.6. The total number of shares traded during the day was 4177 in over 210 trades.
The stock hit an intraday high of Rs. 171.35 and intraday low of 165. The net turnover during the day was Rs. 700837.