iGate CEO Ashok Vemuri quits

Months after the French IT giant Capgemini acquired iGate, a New Jersey-based IT firm, Ashok Vemuri, the CEO of iGate announced his exit from the organisation.

As per an official statement by Capgemini, Vemuri resigned from the company to pursue other interests.

In April this year, Capgemini striked a $4 billion deal to acquire iGate.

Requesting anonymity, official sources informed that iGate finance chief Sujit Sircar would now take the interim responsibility of the role. Sircar, however, declined to make any comment on the matter.

If reports are to be believed, Vemuri is set to walk away with a handsome amount in his pockets. As per the regulatory filings, his share in iGate was worth $19 million following the Capgemini acquisition. The move must have affected his final package, but there are no details available so far.

Vemuri was recently elevated to Capgemini’s group management board, the company’s highest executive decision-making body, reported The Economic Times.

Vemuri’s plans of quitting were widely speculated at the time when Capgemini bought iGate that eventually resulted in a major organisational overhaul and exits of a number of executives.

It has also been said that Vemuri ditched iGate's "iTops" strategy that had been crafted by his predecessor Phaneesh Murthy, the former Infosys global sales head.

Prior to iGate, Vemuri spent 15 years at India's second largest software exporter Infosys where he was a board member and held a number of roles, including head of Americas and head of the banking and financial services business.
Image: indiatimes