Syntel, Inc. (SYNT) CEO Rakesh Resigns; Interim CEO Named
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Syntel, Inc. (Nasdaq: SYNT) announced the appointment of Rakesh Khanna, formerly Chief Operating Officer, as interim Chief Executive Officer and President of Syntel, effective November 3, 2016. Syntel’s Board of Directors also announced the appointment of Prashant Ranade, formerly Executive Vice Chairman, as Co-Chairman of the Syntel Board, effective November 3, 2016.
Rakesh Khanna has served as Chief Operating Officer of Syntel since January 2012. He previously served as as President of Syntel’s Banking and Financial Services Business Unit from July 2005 to December 2011. As interim CEO, Rakesh will report to Prashant Ranade.
Prashant has served as Executive Vice Chairman since April 2014. He previously served as Chief Executive Officer and President of Syntel from February 2010 to April 2014. He has served as a director of Syntel since June 2007.
“Rakesh has a proven track record of success at Syntel and an in-depth knowledge of the company, our clients and the markets we serve,” said Syntel Chairman and Co-Founder Bharat Desai. “I am confident that he will continue to serve and exceed the expectations of our clients. I am delighted to have Prashant Ranade join me as Co-Chairman of the Syntel Board. I look forward to working closely with Rakesh and Prashant to strengthen our market position.”
“Rakesh has a good understanding of the technology landscape and is well suited to lead our clients into the digital future to deliver industry leading growth for Syntel,” said Prashant Ranade.
“I thank the Syntel Board for the opportunity to lead Syntel and look forward to enabling the Digital Modernization journey for our clients,” said Rakesh Khanna.
Nitin Rakesh has stepped down from the positions of Chief Executive Officer and President and as a director of Syntel.
“On behalf of our employees, I would like to thank Nitin for his commitment and numerous contributions to Syntel for over a decade, and wish him the best in his future endeavors,” said Bharat Desai.
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