NEW DELHI: Telecom major Bharti Airtel today said its non-executive director Rashed Fahad Al-Noaimi has resigned from the company's board of directors.
"...we wish to inform that Rashed Fahad Al-Noaimi, non- executive non-independent director has resigned from the Board of Directors of the company with effect from November 22, 2017," Bharti Airtel said in a BSE filing.
Al-Noaimi is the Chief Executive Officer of Investments at Qatar Foundation for Education, Science and Community Development. Qatar Foundation, a non-profit run by the gas-rich country’s royal family, earlier this month, sold its 5% stake in Bharti Airtel for more than ₹9,500 crore.
He is responsible for Qatar Foundation's investment portfolios and long-term investment policies that include Qatar Foundation Endowment, Qatar Foundation Investments as well as the organisation's other joint ventures and initiatives, according to information available on Bharti Airtel's website.
Earlier this month, Qatar Foundation offloaded its entire 5 per cent stake in Bharti Airtel via an open market sale.
Qatar Foundation had said the proceeds of the stake sale would be re-invested across its global portfolio.
Shares of Bharti Airtel closed 0.53 per cent lower at Rs 496.05 apiece on the BSE today.