Jerry Rao to join global team of EDS

Mphasis BFL Ltd has announced that the Company and EDS on October 10, 2006 has announced that effective November 01, 2006 Jerry Rao will join the global leadership team of Electronic Data Systems (EDS) as Vice President and General Manager of EDS operations in India, EDS acquired a majority ownership stake in the Company earlier this year. In his new role, Mr. Rao will spearhead EDS’ business efforts in India and become the non-executive chairman of the Company. Mr. Rao will report directly to the EDS Office of the Chairman.

Speaking on the appointment, Mr. Ron Rittenmeyer, Chief Operating Officer of EDS said, "We are extremely happy to have Jerry Join EDS’ global leadership team. He brings with him invaluable global experience across diverse positions and will join our leadership team in shaping EDS’ future strategy while continuing to provide leadership to Mphasis team."

Mr. Rao’s appointment becomes effective on the completion of his five-year term as the managing director of the Company on October 31, 2006. Mr. Rao will replace Mr. Stephen Heidt as chairman of the Company, who will remain a director on the Company's Board.

Mr. Jeroen Tas, co-founder of the Company, has rejoined the Company's Board and will continue to serve the Company as its vice-chairman.

As a part of the Company's succession plan, Mr. Deepak Patel, who was recently appointed as the chief operating officer of the group, has joined the Company's Board and will become the new managing director of the Company, effective on November 01, 2006. His appointment will be subject to shareholders and regulatory approvals. Mr. Patel, who until recently worked In the US, has already relocated to the Company’s headquarters in Bangalore.

Mr. Ron Vargo, who was recently elevated to the position of Chief Financial Officer of EDS, has stepped down from the Company's Board.

Source : Equity Bulls

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