Sun 21 12 2014

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iGate names Ashok Vemuri as CEO

iGate names Ashok Vemuri as CEO

Mumbai : IT outsourcing company iGate Corp named Ashok Vemuri as its chief executive and president, nearly four months after sacking its then CEO Phaneesh Murthy over an undisclosed relationship with a subordinate.
Vemuri was till recently the Americas head and global manufacturing chief of bigger rival Infosys Ltd , India's second-largest software services exporter.
Vemuri, who was widely considered a contender to succeed Infosys' Chief Executive S D Shibulal, will also join iGate's board.
Interim President and CEO Gerhard Watzinger will remain with iGate in an advisory role temporarily to assist in the transition, the company said.
Phaneesh Murthy, one of the industry's best-known executives, was sacked after a company sexual harassment investigation revealed that he had not disclosed a relationship with a subordinate.
IGate shares closed up 2% at $26.46 on the Nasdaq on Wednesday.

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