In a surprise move, Sanjay Kalra, chief executive officer of Tech Mahindra, has resigned from the company to pursue other interests. He will step down from his position on September 15.
Vineet Nayyar, vice chairman and managing director, will then take direct charge of operational responsibilities.
The resignation comes when Mahindra Satyam (earlier known as Satyam Computer Services), acquired by TechM, is close to announcing its financial numbers, by the end of September. TechM is likely to merge Mahindra Satyam into itself before the end of financial year 2010-11.
Speaking to a TV channel, Nayyar said: “We did try to persuade Sanjay to stay back but he is resigning due to personal reasons.” With the merger of TechM and Mahindra Satyam now a certainty, Nayyar did not rule out the possibility of a single CEO for the merged entity. Mahindra Satyam is at present headed by C P Gurnani.
“Sanjay has been a key player in Tech Mahindra’s growth. The Board would like to acknowledge his vision, leadership and dedication in enabling the company achieve a premier position in the telecommunication vertical,” said Anand Mahindra, Chairman.
Kalra has been with TechM for over six years. He also spearheaded the relationship with BT (former British Petroleum), one of the largest clients for Tech Mahindra and also a stake holder in the company.
“Sanjay’s contribution to Tech Mahindra’s success is invaluable. His focus on building and managing large relationships with key customers has helped stabilise and take TechM to greater heights. We wish him the very best for his future,” said Nayyar.
