Digital networks integrator Sterlite Technologies (STL) on Friday announced that Anand Agarwal would step down as CEO and director of the company with effect from December 2, 2021, to pursue his personal interests.

The board has accepted his resignation and appointed Ankit Agarwal as the Managing Director of the company with immediate effect.

Ankit Agarwal, who has been with the company for 26 years, will advise and support the company during this transition. The company will be run by a Management committee comprising the MD, CFO, CHRO, and CCO who will enable key decisions collectively under the guidance of the Board and the Chairman.

Appreciating Anand for his contributions, Anil Agarwal, Chairman of STL, said, "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 endeavours and welcome Ankit in his new role to take the company to newer heights."

Ankit Agarwal said, "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."