Latest News | Persistent Systems CEO O'Connor Resigns

Mumbai, Aug 10 (PTI) Pune-based software exporter Persistent Systems on Monday said its chief executive Christopher O'Connor has resigned with immediate effect.

The US-based executive was at the helm for the last 18 months and has resigned due to "personal reasons", the company said, without elaborating on the same.

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O'Connor sent his resignation on Sunday, which has been accepted, the company said in a statement, thanking him for his contributions and driving changes at the firm.

"He helped in building out certain capabilities and improved positioning to tap the opportunities, which helped us achieve a good quarter under difficult circumstances," the company's Chairman and Managing Director Anand Deshpande said.

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"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," O'Connor was quoted as saying in the statement.

The company had reported a 9 per cent growth in June quarter net at Rs 90 crore, helped by increase in revenues despite the COVID-19 pandemic, and sounded upbeat to maintain the momentum for the remainder of the year.

It had rolled back salary cuts for senior management and was looking at achieving other targets through the course of the year, including a relook at annual salary hikes. 

The company's scrip closed 0.93 per cent down at Rs 987.50 apiece on BSE as against gains of 0.37 per cent on the benchmark.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)