Ashok Vemuri, CEO of iGate, resigns1 min read . Updated: 06 Oct 2015, 08:07 PM IST
Cap Gemini acquired iGate in April for $4.04 billion
New Delhi: Ashok Vemuri has quit as chief executive officer (CEO) of technology firm iGate Corp., the company’s new owner Cap Gemini SA said Tuesday.
The French information technology services firm had acquired the Nasdaq-listed iGate for $4.04 billion in April to strengthen its presence in the Indian and North American market and across client sectors in retail, healthcare and engineering. The iGate acquisition took effect on 1 July.
“Ashok Vemuri, CEO of IGATE, having successfully contributed to the transition process, leaves in a mutual agreement to pursue other interests outside of Capgemini", a company statement said.
The statement said Paul Hermelin, chairman and CEO of Cap Gemini, thanked Vemuri “for his active participation to the acquisition process and for his remarkable energy in the transition phase". Integration of iGate is progressing as planned, the statement said.
Vemuri, who was in the race for Infosys Ltd’s first non-founder chief executive before he quit in August 2013, joined smaller rival iGate Corp. as CEO in September 2013.
He took over the reins of the US-based iGate at a time when the Fremont, California-based company was facing formidable challenges, including the risk of losing its biggest customer, Royal Bank of Canada, Mint reported in September 2013.
Before joining iGate, Vemuri spent 15 years at Infosys, where he was directly responsible for driving the growth of numerous multi-billion dollar businesses.