Ashank Desai to take Non-Executive role in Mastek

Mastek Ltd has announced that returning from his sabbatical, Mr. Ashank Desai, the Executive Chairman of the Company has decided to take on a Non-Executive role. Consequently the Company's Board has decided to appoint Mr. Sudhakar Ram as the Chairman and Managing Director of the Company, in addition to his current role as Group CEO.

Commenting on this shift in role, Mr. Ashank Desai said "I’ve had a wonderful experience in founding and growing Mastek along with Sundar, Ketan and Sudhakar for over two decades. We have come a long way as a Company and as a team. As the Company enters a new phase of growth, it is time to bring in the next generation of management talent into the Company. I will continue to be active on the Board and be the chief ambassador of Mastek,, representing the Company in various industry and public forums. I have watched Sudhakar grow as a leader in the last 5 years and have full confidence in his ability to take the Company to new heights, going forward."

Mr. Sudhakar Ram said, "As Chairman and Managing Director, Ashank has been at the helm of affairs for over a decade, overseeing Mastek grow from a small domestic player with Rs 100 million in revenues to a Rs 70 billion global solutions Company. For the next phase of growth, the Company will look within and outside the Company to scale and leverage the enormous business opportunities ahead of us. I look forward to growing Mastek into a significant global solutions Company in the next few years. Our teams at Mastek have always been World Class in delivering solutions. Our next aspiration is to be World Class on all fronts as a Company."

The Company will be seeking necessary approvals for appointing Sudhakar, who is a Non-resident, as the Chairman & Managing Director.

Note: The Company has now informed that, "Rs 70 billion global solutions Company" should be read as "Rs 7 billion global solutions Company".

Source : Equity Bulls

Keywords