New Delhi, Oct 8 (PTI) 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 managing director of the firm with immediate effect, STL said in a statement.

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Anand Agarwal, who has been with STL for 26 years, would advise and support the firm 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," the statement said.

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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, a whole-time director, has been with the company since 2010, most recently as chief executive of the optical business.

He has driven key global customer wins, strategic acquisitions, global talent addition, capacity expansion, and multifold revenue and order book growth, STL said.

Commenting on his appointment, 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."

Anand Agarwal noted that the company is "well positioned" for the next phase of growth with a focused strategy and strong leadership team.

"I have decided to transition and focus on my next endeavour," he added.

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