Mid-tier software firm NIIT Technologies on Monday announced the appointment of Sudhir Chaturvedi as its first chief operating officer.
Chaturvedi resigned as senior vice-president and head of financial services, Americas Business Unit, of Infosys on Friday, ending a 13-year stint with India’s second-largest software firm.
According to the NIIT management, Chaturvedi will be looking after day-to-day operations of global sales and delivery, reporting directly to CEO Arvind Thakur.
“The position of COO is a new one created at NIIT. This was required to enhance leadership bandwidth to scale in line with our vision to become a $1 billion company by 2018 – from the $375 million company we are today,” said Thakur.
Chaturvedi brings to NIIT his rich experience in the US and Europe (which account for around 27% and 37% of NIIT’s revenues, respectively), as well as a multi-vertical focus across manufacturing, retail, and in his last role at Infosys – banking financial services and insurance (BFSI).
In the quarter ended June, NIIT reported 30% of its revenues from BFSI and insurance and 7% of its revenues from manufacturing.
“Basically, NIIT’s business is built around three horizons.
The first is run-the-business and current focus areas like application development and BPO, which altogether constitute around 70% of our revenues. The second horizon is new service lines, like managed services, platform-based services, IP-based services and outcome-based services which will now have a more output-oriented focus. These two areas will now be handled by Chaturvedi,” said Thakur.
Thakur will now focus more on the third horizon, comprising new technologies like social, mobile, analytics and cloud, which, together with new service lines, is expected to contribute 25% of NIIT’s revenues by the end of this year, up from 20% now.
“These two areas are expected to continue to add 5% to NIIT’s revenues yearly from next year,” said Thakur.
In the April-June quarter, NIIT’s profits declined 7.5%, although its revenues grew 15.4% on an annual basis.