Exela Technologies (XELA) Announces CFO Transition

Exela Technologies, Inc. (NASDAQ: XELA), a location-agnostic global business process automation (BPA) leader across numerous industries, today announced that Shrikant Sortur, who has served as Exela’s Executive Vice President, Global Finance since 2017, has been promoted to Chief Financial Officer as part of the Company’s succession planning process. Jim Reynolds, who has served as CFO since 2017, will remain a non-employee member of the Company’s Board of Directors.

“We are excited to announce the promotion of Shrikant Sortur to CFO,” said Ronald Cogburn, Chief Executive Officer of Exela, and added, “Shrikant brings extensive experience and proven financial leadership managing our complex global finance operations over the past three years. His skills and expertise make him uniquely qualified to serve as our CFO and provide strategic vision to Exela as we execute our plans and objectives. I would like to thank Jim for his many contributions as CFO, and look forward to his continued partnership as a Board member.”

Mr. Shrikant Sortur, 47, has served as the Exela’s Executive Vice President, Global Finance since July 2017 and previously served as Senior Vice President, Global Finance of SourceHOV Holdings, Inc. (“SourceHOV”) from 2016 until SourceHOV’s business combination with Novitex Holdings, Inc. in July 2017. Mr. Sortur served in positions of increasing responsibility at predecessor companies to SourceHOV from 2002 until July 2017. Mr. Sortur's career spans almost two decades of varied experience and has established a leadership role in the finance organization, with responsibility for corporate accounting and financial reporting, financial planning and analysis, accounting shared services, post-acquisition integration and lean operations. In these roles, he has worked closely with executive leadership on long-term strategic planning, including multiple M&A transactions.

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