WESTBOROUGH, Mass.--(BUSINESS WIRE)--Jul. 5, 2017--
Virtusa
Corporation (NASDAQ GS: VRTU), a global business consulting and IT
outsourcing company that accelerates business outcomes for its clients,
today announced that Martin Trust and Robert E. Davoli have decided to
retire from the Board of Directors and will not stand for re-election.
Mr. Trust will retire, effective June 30, 2017, and Mr. Davoli will
continue to serve as a director of Virtusa until the Company’s fiscal
year 2017 annual meeting of stockholders on September 7, 2017.
Mr. Davoli has been a member of the Board of Directors since 2000 and
serves on the Board’s compensation committee. Mr. Trust has been a
member of the Board since 2004 and is the Chairman of the compensation
committee.
Kris Canekeratne, Chairman and Chief Executive Officer of Virtusa,
stated, “On behalf of the Virtusa Board of Directors, I would like to
thank Marty and Bob for their many years of service and valuable
contributions to Virtusa. Their experience and thoughtful guidance have
been tremendous assets to the Company and helped drive our significant
growth during their tenures. We wish Marty and Bob the very best in
their retirement.”
Virtusa has recently added three Board members as part of its Board
planning process. Barry R. Nearos, an ex-partner from PwC, joined the
Board on March 31 2016. Mr. Joe Doody, former Vice Chairman of Staples,
Inc., joined the Virtusa Board on February 22, 2017. Lastly, Mr. Vikram
S. Pandit, an ex-CEO of Citigroup and Chairman and CEO of The Orogen
Group LLC, an operating company he created with the Atairos Group, Inc.
that makes control and other strategic investments in growth-oriented
financial services and related companies, joined the Virtusa Board on
May 3, 2017 as part of the $108 million convertible preferred stock
financing consummated with Virtusa by the Orogen Group on May 3, 2017.
About Virtusa
Virtusa Corporation (NASDAQ GS: VRTU) is a global provider of
information technology (IT) consulting and outsourcing services that
accelerate business outcomes for Global 2000 companies and leading
software vendors in banking and financial services, insurance,
healthcare, telecommunications, technology, and media & entertainment.
Virtusa helps CXOs address the dual challenge of growing revenues while
improving IT cost efficiencies. Virtusa's digital transformation &
innovation (DTi) solutions enable clients to reimagine the customer
experience, accelerate revenue growth and creating lasting business
value. The company’s operational excellence (OE) solutions help clients
reduce risk, improve operational efficiencies, and lower IT costs.
Virtusa delivers services across the IT lifecycle, including consulting,
solution design, technology selection, implementation, testing, and
maintenance, including infrastructure support. With a strong heritage in
software engineering, Virtusa is highly qualified to both develop and
maintain software, using a proven platforming methodology and advanced
Agile and Accelerated Solution Design techniques to reliably deliver
results on time and within budget.
Holding a proven record of success across industries, Virtusa readily
understands its clients' business challenges and uses its domain
expertise to deliver distinctive, differentiated and innovative
applications of technology to address its client critical business
challenges. Examples include the building the world's largest P&C claims
modernization program; one the largest corporate customer portals for a
premier global bank; an order to cash implementation for a multinational
telecommunications provider; and digital transformation initiatives for
media and banking companies.
Through the acquisition of a majority interest in Polaris Consulting
Services Ltd. in March 2016, Virtusa has created a robust platform to
provide end-to-end solutions and services in banking and financial
services, strengthening its positioning as a top, global FinTech
services provider. Virtusa Corporation is headquartered in Massachusetts
and has 50 offices across North America, Europe, Asia-Pacific and
Australia.
Polaris Consulting & Services is a subsidiary of Virtusa Corporation.
Copyright © 2017 Virtusa
Corporation. All Rights Reserved.
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Source: Virtusa Corporation
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