Persistent Systems, outsourced software product development services player has won the Titanium award at The Asset Triple A Corporate Awards 2010 for excellence in corporate governance, social responsibility and investor relations.
The Asset Triple A Corporate Awards have been designed in conjunction with investors to provide a highly rigorous bench marking service for corporates that takes into account both quantifiable financial performance as well as more subjective factors of management acumen, corporate governance and social responsibility.
According to Anand Deshpande, chairman and managing director of Persistent Systems, the award board follows stringent methodology, combined with the rigorous approach to the selection of the winners. The awards take into account disclosed information from the companies as well as feedback from investors and industry analysts.
The award is given to companies that have gone beyond regulatory compliance, to promote corporate culture that is transparent, investor-friendly and that takes cognizance of the rights of minority shareholders.
"This is our first year as a listed company and it is a matter of pride for Persistent Systems to be recognized for excellence in corporate governance standards and investor relations. Corporate governance is not just compliance at Persistent; rather it is an essential ingredient of our business. We are committed to creating long-term value for our stakeholders and continue to benchmark our policies to ensure highest standards of corporate governance," said Deshpande.
