 "3i Infotech appoints Thompson Gnanam as new managing director, global CEO")
3i Infotech Ltd on Thursday said Thompson Gnanam has been appointed as the company's managing director and global CEO, with immediate effect.
Also, Mrinal Ghosh has been named as the company's chief financial officer, while Avatar Singh Monga has been appointed as an additional director.
"As part of the sale of the product business of the company to Azentio Software Pvt Ltd under the business transfer agreement (BTA) dated December 28, 2020, Padmanabhan Iyer will move to Azentio Software.
"Accordingly, he has stepped down as managing director and global CEO and CFO (chief financial officer) of the company," according to a regulatory filing.
Pursuant to resignation of Iyer, Thompson Gnanam has been appointed as the company's MD and global CEO for a period of five years, subject to approval of the company's shareholders at its ensuing general meeting, it added.
"The Board has approved change in designation of Padmanabhan Iyer from MD and global CEO to a non-executive director, with effect from April 1, 2021, on account of the consummation of transactions contemplated under the BTA," it said.
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Gnanam has worked with global organisations such as Danaher, Hewlett Packard, Vodafone, Hexaware, TATA BSS, LEBARA MOBILE, and Conneqt Business solutions.
The filing noted that Avatar Singh Monga has been named as an additional director (designated as non-executive independent director) of the company for a term of five years effective April 1, 2021.
In December last year, 3i Infotech Ltd had announced entering into definitive agreements to sell its software products business to the funds advised by Apax Partners for Rs 1,000 crore.
The software products business has been acquired by a newly formed company named Azentio Software, wholly-owned by the Apax Funds.
Sale of the Product Division and the rest of the global software product business has been completed on March 31, 2021, except in Thailand and Saudi Arabia.
The sale of the software product business in Thailand and Saudi Arabia is expected to be completed following receipt of the required regulatory approvals, a previous filing by the company had said.
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