SANTA CLARA, Calif. and
PUNE, India, May 15, 2024 /PRNewswire/ --
News Summary
Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) announced
today the appointment of Vinit
Teredesai as the Chief Financial Officer (CFO) of the
Company, effective immediately, taking over from Sunil Sapre, Executive Director, who will be
retiring later this year. Vinit will be responsible for providing
financial leadership to Persistent in its continuing growth
journey.
Vinit is a seasoned finance professional with over 28 years of
experience in finance, accounting, auditing, taxation, fund
raising, risk management, mergers and acquisitions, and corporate
restructuring. Earlier, he served as the CFO at LTIMindtree
Limited, and before that, of Mindtree Limited. Prior, he worked as
the CFO and CIO of KPIT Technologies Limited. Vinit is a qualified
Chartered Accountant, Cost and Management Accountant, and a
Certified Public Accountant in the United
States. He has completed a General Management program from
the Sloan School of Management at the
Massachusetts Institute of Technology (MIT), focusing on strategy, innovation, and
technology.
Sandeep
Kalra, Chief Executive Officer and Executive Director,
Persistent:
"It's my pleasure to welcome Vinit to the Persistent team.
Vinit's rich industry experience and expertise in the finance
domain will be a valuable addition to the executive team in the
next orbit of our growth journey to $2
billion in revenue and beyond, while ensuring the creation
of enhanced stakeholder value. I would also like to thank Sunil for
his valuable contribution to Persistent over the past 9 years.
Sunil will continue to be a key part of Persistent executive team
and our board till his retirement later this year."
Sunil
Sapre, Former Chief Financial Officer and Executive
Director, Persistent:
"I am very happy to welcome Vinit and wish him the best as he
steps in as the next CFO of the Company. I will be working closely
with him to ensure a smooth transition. I would like to express my
deepest gratitude to our Board for the trust placed in me, and for
their support, and guidance throughout my tenure as CFO. In
addition, I would like to express my sincere thanks to our
customers, partners, investors, analysts, vendors, and other
stakeholders for their support through this journey."
About Persistent
With over 23,800 employees located in
21 countries, Persistent Systems (BSE & NSE: PERSISTENT) is a
global services and solutions company delivering Digital
Engineering and Enterprise Modernization. As a participant of the
United Nations Global Compact, Persistent is committed to aligning
strategies and operations with universal principles on human
rights, labor, environment, and anti-corruption, as well as take
actions that advance societal goals. With 268% growth since 2020,
Persistent is the fastest-growing Indian IT Services brand
according to Brand Finance.
www.persistent.com
Forward-looking and Cautionary Statements
For risks
and uncertainties relating to forward-looking statements, please
visit persistent.com/flcs
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