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Press Releases |
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Vikram Talwar appointed
Executive Chairman
Rohit Kapoor appointed President and CEO
Pavan Bagai appointed Chief Operating Officer
Steven B. Gruber to be appointed Lead Director
of the Board |
New York/New Delhi – April
15, 2008 – ExlService Holdings, Inc.
(“EXL”) (Nasdaq: EXLS), a leading provider
of transformational outsourcing solutions, today
announced important management appointments pursuant
to internally developed succession plans effective
May 1, 2008. These changes will help EXL to achieve
its vision of providing a competitive edge to its
clients through transformation and outsourcing of
business processes. In addition, these changes will
also reinforce EXL’s unique position as a
client-focused company by bringing the leadership
team closer to its clients.
Mr. Talwar, 58, previously Vice Chairman and CEO,
will take on the role of Executive Chairman, focusing
on the long term strategy and vision for the Company.
He will also be providing strategic advice and counsel
to the CEO of EXL. In assuming this new role, Mr.
Talwar will be able to devote the majority of his
time to key client relationships and strategic business
development initiatives. Prior to co-founding EXL
in 1999, Mr. Talwar led Bank of America’s
and Ernst & Young Consulting’s operations
in India.
Rohit Kapoor, 43, has been appointed Chief Executive
Officer and President. In his new role as Chief
Executive Officer, Mr. Kapoor will spearhead strategy
and execution by aligning the Company's resources
and key strengths to existing client needs and new
market opportunities. He will also be responsible
for day-to-day management of the Company. Prior
to co-founding EXL along with Mr. Talwar, Mr. Kapoor
was a business head at Deutsche Bank, leading a
marketing team that serviced clients in Europe,
the Middle East and the Indian sub-continent.
The Company is in the process of creating the new
position of Lead Director of the Board of Directors
of the Company. Steven B. Gruber, previously Chairman
of the Board, is expected to take on the position
of Lead Director effective May 1, 2008. The Lead
Director will facilitate the functioning of the
Board independently of the Company’s management
and will focus on further enhancing EXL’s
commitment to the highest standards of corporate
governance. Mr. Gruber, 50, also serves as Managing
Partner at Oak Hill Capital Management, Inc.
Pavan Bagai, 46, who joined EXL in 2002, has been
appointed Chief Operating Officer. In this expanded
role, Pavan will be charged with offshore delivery
across all the business lines and geographies and
will continue to spearhead Outsourcing operations.
He will also be responsible for administratively
managing the Transformation services in India and
strategic client relationships. Pavan had earlier
worked with Bank of America for 17 years in various
senior management positions.
Rembert de Villa, 51, was recently appointed as
Head of Transformation and will lead Research &
Analytics, Risk Advisory Services, and Value Added
Services. Prior to joining EXL, Rembert was the
Global Practice Leader for Strategic Services at
MasterCard Advisors. Rembert brings to EXL 23 years
of senior-level consulting experience from previous
leadership roles at Capgemini, AT Kearney and Andersen
Consulting. Both Pavan and Rembert will report to
Mr. Kapoor.
“Today marks the next stage in the growth
and evolution of EXL into a market leader.”
said Mr. Gruber. “The Board believes that
the management appointments announced today will
further strengthen EXL’s management team and
reinforce the Company’s ability to achieve
its strategic growth objectives. We are fortunate
that we are able to have Mr. Kapoor as the next
CEO of EXL while at the same time benefiting from
Mr. Talwar’s ongoing involvement in the Company’s
growth,” Mr. Gruber further added.
“I am delighted to take on the new role of
Executive Chairman to increase our focus on driving
EXL’s growth strategy forward,” said
Vikram Talwar. “Our 47% year-over-year revenue
growth in 2007 is confirmation of our ability to
deliver increased value for our clients. Rohit,
in particular, has played a critical leadership
role in executing our strategy to-date, and I am
looking forward to working closely with him in his
new expanded duties as CEO. I am happy that there
is a tremendous amount of depth and talent within
the management team that allows us to make a well
considered and planned succession. I also want to
thank our clients and employees for their continued
support of EXL.”
“I am honored to take on this new leadership
responsibility with the complete confidence of Vikram
and the Board,” said Rohit Kapoor. “I
believe that our strategy, strong track record of
performance for our clients and commitment to driving
shareholder value, provide a strong foundation on
which to build EXL’s future growth. I look
forward to working closely with Pavan and Rembert
to expand the range of value-added services that
EXL offers to our clients and to further strengthen
our operations around the world. This new organization
structure is a significant step toward achieving
our vision as well as our business objective of
sustaining a rapid growth rate.”
ExlService Holdings, Inc. (NASDAQ: EXLS) is a recognized
business solutions provider. EXL's offerings provide
a competitive edge to its clients by transforming
and outsourcing business processes. Transformation
services enable continuous improvement of client
processes by bringing together EXL's capabilities
in reengineering including Six Sigma process improvement,
research & analytics, and risk advisory services.
EXL's outsourcing services include a full spectrum
of business process services from offshore delivery
centers requiring ongoing process management skills.
Headquartered in New York, EXL primarily serves
the needs of Global 1000 companies in the banking,
financial services, insurance, utilities, healthcare,
telecommunications and transportation sectors. Find
additional information about EXL at www.exlservice.com.
This press release contains forward-looking statements.
You should not place undue reliance on those statements
because they are subject to numerous uncertainties
and factors relating to the Company's operations
and business environment, all of which are difficult
to predict and many of which are beyond the Company's
control. Forward-looking statements include information
concerning the Company's possible or assumed future
results of operations, including descriptions of
its business strategy. These statements often include
words such as "may," "will,"
"should," "believe," "expect,"
"anticipate," "intend," "plan,"
"estimate" or similar expressions. These
statements are based on assumptions that we have
made in light of management's experience in the
industry as well as its perceptions of historical
trends, current conditions, expected future developments
and other factors it believes are appropriate under
the circumstances. You should understand that these
statements are not guarantees of performance or
results. They involve known and unknown risks, uncertainties
and assumptions. Although the Company believes that
these forward-looking statements are based on reasonable
assumptions, you should be aware that many factors
could affect the Company's actual financial results
or results of operations and could cause actual
results to differ materially from those in the forward-looking
statements. These factors are discussed in more
details in the Company's filings with the Securities
and Exchange Commission, including the Company's
Annual Report on Form 10-K for the year ended December
31, 2007. These risks could cause actual results
to differ materially from those implied by forward-looking
statements in this release.
You should keep in mind that any forward-looking
statement made herein, or elsewhere, speaks only
as of the date on which it is made. New risks and
uncertainties come up from time to time, and it
is impossible to predict these events or how they
may affect the Company. The Company has no obligation
to update any forward-looking statements after the
date hereof, except as required by federal securities
laws.
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