Cyient, a global technology solutions company has announced executive leadership appointments to accelerate its technology led growth. Earlier in the year, the board of directors of Cyient Limited had approved the reorganization of the company into two separately operating entities to foster their individual growth momentum.
Subsequently, a Draft Red Herring Prospectus (DRHP) was filed to take the Design Led Manufacturing (Cyient DLM) business through an Initial Public Offer (IPO) with the Indian market regulator.
With immediate effect, Cyient’s board of directors has appointed Krishna Bodanapu as executive vice chairman and managing director of Cyient Limited. Karthikeyan (Karthik) Natarajan has been appointed as CEO and continues to be the executive director of Cyient Limited. Prabhakar Atla has been appointed as the CFO designate, keeping in mind the upcoming retirement of Ajay Aggarwal, CFO of Cyient Limited, on April 20th 2023. As per the company, Atla will take over the role of CFO on that date and report to the CEO. Furthermore, as announced earlier, Antony Montalbano has been appointed as the CEO of Cyient DLM. Regulatory and members’ approval, as required and applicable, will be obtained. The CEOs of Cyient Limited and Cyient DLM will report to Krishna Bodanapu.
Commenting on the appointment, MM Murugappan, non-executive chairman, Cyient, said, “Krishna has been instrumental to the growth, diversification, and advancement of Cyient during his tenure as Managing Director and CEO. With this reorganization, I am confident that his vision for the Company will continue to be successfully executed. I thank Krishna for his leadership, commitment, and unwavering drive to take Cyient to new heights”.
Krishna Bodanapu, executive vice chairman and MD, Cyient commented on the appointment of Karthik Natarajan, “Over the past three years, Karthik has steered Cyient in its transformation to a technology solutions company. With his deep understanding of industries and customer needs, he has been a driving force behind the company’s success. I wish him the best in his new role.”