Chris O’Connor, CEO of Persistent Systems to step down

O’Connor had acquired the position as CEO in April, last year and since then brought a new strategy in being, changing how the various verticals have been integrated. 

 

Persistent Systems, Pune-based mid-size IT business declared the resignation of its Christopher O’Connor, its chief executive officer, today. He stated that he stepped down owing to his personal issues through a letter dated August 9, 2020. His resignation will be effective without delay.

O’Connor had taken began working as CEO in April 2019 and since then set up a brand new approach in place, changing how the various verticals have been organized. He also did bring about modifications in the senior management and even had some senior managers quit the company during his tenure.

“Over the past year and a half, we have done significant work to strengthen our operational and offering capabilities to better serve a rapidly expanding client base. At a personal level, I’ve held multiple interests beyond technology, and the pandemic, with its constraints on travel contributing to improved personal health, has given me ample time to appreciate those life’s blessings,” mentioned Chris O’Connor in a statement.

The company had declared a 9.5% growth in revenue for the quarter until June $131 million, rising by 3.1% progressively. In concern with rupee terms, revenue grew from 19.1% to Rs 991.3 crore and profit raised up to 9.1% to Rs 90 crore.

Anand Deshpande, Chairman, and Managing Director, stated: “We thank Chris for his contribution to Persistent over the last eighteen months. He helped in building out certain capabilities and improved positioning to tap the opportunities, which helped us achieve a good quarter under difficult circumstances. On behalf of the Board and the Company, I wish Chris all the best in his future endeavors.” 

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