iGATE Corporation (NASDAQ: IGTE), the first integrated technology and operations (iTOPS) company providing Business Outcomes-based solutions, today announced that Ashok Vemuri has been appointed as iGATE’s President and Chief Executive Officer, effective September 16, 2013. Mr. Vemuri will also join iGATE’s Board of Directors. Gerhard Watzinger, who has served as the Company’s Interim President and CEO since May 2013, will remain with iGATE in an advisory role temporarily to assist with Mr. Vemuri’s transition.
Mr. Vemuri joins iGATE from Infosys, where he most recently held the roles of Member of the Board of Infosys Limited, Head of Americas and Global Head of Manufacturing and Engineering. Mr. Vemuri also served as the Chairman of Infosys China and was on the Board of Infosys Public Services. He earlier established and ran the Financial Services and Insurances business for nine years, making it the largest business unit within Infosys. In his role as Head of Americas, Mr. Vemuri was responsible for Infosys’ business operations in the company’s largest region—with $4.7 billion in revenues—and he oversaw all facets of the business, from strategic direction to maintaining and improving financial and operational efficiency.
After an extensive search process, we are delighted that Ashok will be joining iGATE as President and CEO,” noted Sunil Wadhwani, Co-Founder and Co-Chairman of the Board of iGATE. “Ashok brings a tremendous track record of success and accomplishments working across a range of businesses at Infosys, where he was directly responsible for driving growth for numerous multi-billion dollar businesses. He is a talented and established leader, and the Board has great confidence in his ability to drive iGATE to continued growth into the future.
Ashok Trivedi, Co-Founder and Co-Chairman of the Board of iGATE, also stated: “On behalf of the Board and iGATE as a whole, Sunil and I want to extend our deepest gratitude to Gerhard for his extraordinary efforts and leadership as Interim President and CEO. Gerhard has been a dedicated and effective leader in managing this transition process. iGATE has a strong business model and Ashok is the right person to lead iGATE into the next phase of growth and opportunity.
iGATE has great market opportunity right now because of the success of its Business Outcomes-based model and the Company’s ability to deliver excellent solutions across numerous vertical markets,” said Mr. Vemuri. “I’m very excited about assuming the roles of President and CEO and look forward to working with the Board of Directors and the management team to deliver on iGATE’s growth strategy, leveraging the Company’s unique offerings.
