Infotech Lead India: iGATE has appointed Gerhard Watzinger as the new president and CEO on an interim basis.
Watzinger replaces Phaneesh Murthy, who has been sacked over sexual complaints.
Gerhard Watzinger is a 29-year IT industry veteran, who previously served as an executive at iGATE from 1998 to 2003 in a number of roles, including CEO of the iGATE Solutions business (formerly Mascot Systems).
During his tenure, Watzinger drove iGATE Solutions’ transition from a U.S-centric operation to an international organization across four continents, closed some of the largest deals in the company’s history and increased the company’s market value by over 150 percent.
Watzinger returns to iGATE from Intel’s McAfee, where he was EVP and chief strategy officer.
Previously, Watzinger also served as CEO of both SafeBoot and APT International, partner and managing director at Price Waterhouse and managing director at CapGemini.
Ashok Trivedi, co-founder and co-chairman of the Board of iGATE, said: “iGATE will continue to focus on creating value for our customers and shareholders, while upholding the highest ethical standards in every area of our business.
“We are fortunate to have Gerhard Watzinger returning to iGATE during this transition. Watzinger possesses deep knowledge of iGATE’s business and he assumes his responsibilities as our Interim President and CEO with the full support of the Board,” Trivedi added.
“iGATE has great resources and a deep bench of talent from which to draw upon to further create shareholder value,” said Watzinger. “We have a clear strategy that has put us in this strong position to maintain our successes into the future. Continuing to execute this strategy is our top priority.”
Wadhwani and Trivedi will work closely with Watzinger during his tenure as interim president and CEO to ensure a seamless transition.
The company has created a search committee within the board of directors to oversee the process for the identification and selection of a new president and CEO.
Watzinger has taken himself out of consideration for the role of permanent president and CEO, but he will serve as interim president and CEO until the selection process is complete.
The company does not expect to make any additional structural or executive leadership changes in the near future.