Virtusa Announces Retirement of Board Members Martin Trust and Robert E. Davoli
July 05 2017 - 4:05PM
Business Wire
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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Media Contact:GreenoughAmy Legere,
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Contact:ICRWilliam Maina,
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