Mphasis announces appointment of Manish Dugar as the Chief Financial Officer effective 15 May 2020

V Suryanarayanan will continue as the Chief Financial Officer until 14 May 2020

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Mar 16, 2020, 12:40 ET

BENGALURU, India, March 16, 2020 /PRNewswire/ -- Mphasis Limited (BSE - 526299; NSE - MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced the appointment of Manish Dugar as the Chief Financial Officer effective 15 May 2020. V Suryanarayanan, will continue as the Chief Financial Officer until 14 May 2020, and will be available for transition support, until he retires in October 2020.

Acknowledging Mr. Suryanarayanan's contributions, Nitin Rakesh, CEO, Mphasis said, "I would like to thank Surya for his relentless support and leadership in setting new benchmarks in finance, strategy and governance. As we drive our business forward, I am highly confident that Manish's deep industry expertise and extensive global experience will take Mphasis to new heights. We welcome Manish to the Mphasis Leadership Team and look forward to his contribution in creating value"

"I feel privileged with the opportunity to serve Mphasis, and all our stakeholders - clients, shareholders, and employees," said Suryanarayanan V. "I am looking forward to working closely with Manish for the next few months, and in ensuring a seamless transition."

"I am excited and grateful to the Mphasis Board and humbled by the trust and confidence placed in me to take on this key role at a growing organization. I look forward to working closely with the team in our journey to sustain and enhance stakeholder value," said Manish Dugar.

Manish brings strong financial leadership experience of over 25 years across multiple industries including Information Technology, BPO, FMCG, diversified conglomerates and with new age digital and health-tech sectors. He is a qualified Chartered Accountant (CA), India, Cost & Works Accountant (CWA), India, Company Secretary (CS), India and holds a Diploma in Business Finance from ICFAI. He holds a Master of Business Administration, Finance degree from the Indian Institute of Management (IIM), Calcutta Having served as CFO of Wipro Technologies, the CEO of Wipro's BPO business among others, he has taken up diverse, large and challenging assignments in IT Services industry. He has also led several M&A initiatives and has actively been engaged in fund-raising with FIIs, Banks, and other institutional investors. Manish has also held several leadership roles at Practo Technologies, inMobi, RPG Enterprises and Agnus Capital LLP.

About Mphasis

Mphasis (BSE: 526299; NSE: MPHASIS) applies next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in the Mphasis' Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C²_TM=1) digital experience to clients and their end customers. Mphasis' Service Transformation approach helps 'shrink the core' through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis' core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients. Click here to know more.

Safe Harbor:

Certain statements mentioned in this presentation concerning our future growth prospects are forward looking statements (the "Forward Statements") and are based on reasonable expectations of the management, which involves several risks, and uncertainties that could cause actual results to differ materially from those in such Forward Statements. The risks and uncertainties relating to these Forward Statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, fluctuations in foreign exchange rates, revenue and profits, our ability to generate and manage growth, intense competition in IT services, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price and fixed-time frame contracts, restrictions on immigration, industry segment concentration, our ability to manage our international operations, our revenues being highly dependent on clients in the United States of America, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies, unauthorized use of our intellectual property(ies) and general economic conditions affecting our businesses and industry. We may, from time to time, make additional written and oral Forward Statements. We do not undertake to update any Forward Statements that may be made from time to time by us or on our behalf, unless required under the law.

SOURCE Mphasis