Sunil Mittal to step down from StanChart board

BANGALORE, INDIA:Sunil Bharti Mittal, the chairman of India's leading mobile operator Bharti Airtel will resign from the board of Standard Chartered with effect from July 31, the company said in statement on Tuesday.

Sunil Bharti Mittal, who has been a non-executive director of Standard Chartered since August 2007, said he was resigning as he found it difficult to balance involvement with Bharti Enterprises, the parent company of Bharti Airtel, with his role of a bank board member.

"Given my involvement with Bharti Enterprises, it is becoming increasingly difficult to balance my time with the demands placed on a non-executive director on the board of a bank," Mittal said in the statement.

"It is therefore with regret that I have tendered my resignation and I wish the Bank every success in the future as it continues to pursue its highly effective strategy," he added.