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News : Mphasis appoints Nitin Rakesh as CEO and Member of the Board
Bangalore, India, Jan 27, 2017 -- Mphasis Limited, an Information Technology (IT) services provider (BSE - 526299; NSE - MPHASIS), announced the appointment of Mr. Nitin Rakesh as its Chief Executive Officer and Additional Director on the Board with effect from 29 January 2017. Mr. Nitin Rakesh takes over the role from Mr. Ganesh Ayyar, whose tenure expires on 28 January 2017.
Mr. Nitin Rakesh, until recently was the Chief Executive Officer and President of Syntel, Inc. (a NASDAQ listed IT Services Company). Mr. Rakesh has a proven track record of delivering profitable growth at industry leading operating margins. Prior to being the CEO, Mr. Rakesh held multiple roles at Syntel such as President, Americas, where he headed Business Development and North American operations.
Mr. Rakesh brings several strengths to Mphasis including:
- Deep domain expertise in Banking, Financial Services and Insurance verticals
- Strong customer-orientation, large deal experience, and a track record of delivering transformative digital solutions
- Building a growth-focused culture – steered business in Europe to grow above the industry average rate
- Entrepreneurial mindset – founding member of one of the fastest growing Business Process Outsourcing businesses, and
- Focus on developing Intellectual Property and launching innovative new service offerings, including in automation
"The management of Mphasis is excited to have Nitin on board. Mphasis hopes to gain from Nitin’s vast experience, strong customer orientation and deep insights in the areas of new emerging technologies such as Digital & Automation. He has held key leadership roles, scripting numerous success stories and we hope that under his leadership, Mphasis will reach newer heights. The entire Mphasis family thanks Ganesh Ayyar for his exemplary stewardship and his valuable contribution over the last eight years. We wish him all the very best in the years ahead" said Mr. Davinder Singh Brar, Chairman of the Board of Mphasis.
"To accelerate value creation for customers, shareholders and employees, we are excited to have Nitin Rakesh join Mphasis’ talented management team. The combination of Nitin’s professional track record as CEO of a US- listed, BFSI-focused IT services company and personal qualities of creativity, humility, collaboration and hard work is ideal to lead Mphasis in its next phase of growth. We thank Ganesh Ayyar for building a customer- centric culture, a great management team, and a fast growing Direct Core business. We wish him the very best as he transitions his role to Nitin" said Mr. Amit Dixit, Director of Mphasis and Co-Head of Blackstone Private Equity in India.
On his appointment, Mr. Nitin Rakesh said: "I am very excited to take on the leadership of Mphasis. I am most enthused about the company’s unique positioning and strong customer base and hope to capitalize on the opportunities offered by adoption of Digital Transformation. The company has one of the most promising teams, and I am looking forward to working with them to create value for our customers, employees and shareholders."
"I have had the privilege of leading this company for eight years. A company with deep culture of innovation, customer centricity and service excellence. Over the years, customers and Mphasians alike have made a tremendous contribution to Mphasis’ success. I will continue to cherish these relationships and am committed to make this transition successful. Mphasis is on a positive glide path and I am sure that Nitin, given his track record in this industry, would further accelerate this momentum" said Mr. Ganesh Ayyar.
Posted by Veronica Silva Cusi, news correspondent
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Published: Tuesday, January 31, 2017
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