IT services and distribution company HCL Infosystems today announced the resignation of Harsh Chitale as managing director and CEO.
HCL Infosystems, which posted Rs 1,683 crore revenue for the quarter ending 30 September, 2014, is currently in the last phase of its major restructuring. Recently, it warned investors that its profits and performance will take a beating due to the restructuring.
In FY13-14 the company undertook a restructuring exercise to focus on the growth businesses of distribution and services, while exiting its loss making computing products and hardware solutions businesses.
The Shiv Nadar-founded company also changed its focus in its systems integration business from growth to disciplined execution of existing projects, and revamped the business model of its Learning business from a hardware driven asset-heavy model to a content driven asset-light model.
In FY13-14, the company decided to discontinue its computing products business — branded PCs and tablets — due to structural disadvantages in the business.
Premkumar, executive vice chairman of HCL Infosystems, will be the new managing director of the company.
Harsh, who spent four years at HCL Infosystems, will be looking for a new corporate opportunity.
In September 2014, HCL Infosystems had appointed Premkumar as the executive vice chairman of the company.
Prior to returning to HCL, Premkumar was the group CEO of Apollo Hospitals Enterprise, where he worked with the Board on the Group’s transformation initiatives including its go-to-market strategy, customer experience, strategic partnerships and globalization.
Prior to Apollo Hospitals, he had held important leadership positions at HCL where he was one of the key business leaders of the Group. During his long association of more than 25 years at HCL he held leadership positions in HCL, HCL Frontline and HCL Technologies.
At HCL Technologies, Premkumar headed the over $1 billion dollars in revenue Financial Services and Healthcare verticals along with corporate alliances, partnerships and global expansion.