Mphasis appoints Syntel's Nitin Rakesh as chief executive officer

Mphasis on Friday appointed Nitin Rakesh as chief executive and additional director effective January 29, replacing Ganesh Ayyar whose tenure expires on January 28.

Rakesh, who was till recently the chief executive and president of Syntel Inc, has a track record of delivering profitable growth at industry leading operating margins, the company said in a release. 

Rakesh brings with him deep domain expertise in banking, financial services and insurance verticals, cited Mphasis in a filing to BSE.

"The management of Mphasis is excited to have Nitin Rakesh on board. Mphasis hopes to gain from Nitin's vast experience, strong customer orientation and deeep insights in the areas of new emerging technologies such as Digital and Automation," Mphasis chairman of the board Davinder Singah Brar in a statement.

Commenting on his appointment, Rakesh said in statement," I am very excited to take on th leadership of Mphasis. I am most enthused about the company's unique positioning and strong customer base and hope to capitalise on the opportunities  offered by adoption of Digital transformation."

On Friday, the stock of Mphasis closed up 4.86% or Rs 26.00 at Rs 560.55 on the BSE.

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