Pune based IT firm Persistent Systems' CEO Chris O'Connor resigns citing personal reasons

Pune based mid-size IT firm Persistent Systems today announced the resignation of its chief executive officer Christopher O’Connor. He said that he was resigning for personal reasons through a letter dated August 9, 2020. His resignation will be effective immediately. O’Connor had taken over as CEO in April 2019 and had since put in a new strategy in place, changing how the different verticals have been structured. He had also brought about changes in the senior management, and had some senior managers leave the company during his tenure.

“I have very much appreciated the opportunity to be part of Persistent. 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 have given me ample time to appreciate those life’s blessings. It’s with excitement that I look forward to those endeavors on the back of Persistent’s best quarter ever. I wish the entire Persistent community well and wish everyone the very best,” said Chris O’Connor in a statement.

The company had reported a 9.5% increase in revenue for the quarter to June $131 million, up 3.1% sequentially. In rupee terms, revenue increased 19.1% to Rs 991.3 crore and profit went up 9.1% to Rs 90 crore. “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,” said Anand Deshpande, Chairman and Managing Director.


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