Patni Appoints Surjeet Singh as CFO
June 27 2006 - 6:01AM
PR Newswire (US)
CAMBRIDGE, Mass., June 27 /PRNewswire-FirstCall/ -- Patni Computer
Systems Ltd., a leading global IT consulting and services provider,
today announced the appointment of Mr. Surjeet Singh as its Chief
Financial Officer. Surjeet presently heads Mergers &
Acquisitions at Patni and prior to this he was the CFO at Cymbal
Corporation which he co-founded and which has since merged with
Patni. Surjeet has around two decades of multi-industry global
experience in senior management roles at leading finance, business
planning and global supply chain functions. He has a successful
track record of building finance as a key business enabler,
fostering collaboration in large and mid-sized culturally diverse,
global and matrixed organizations. Prior to Cymbal, Surjeet held
various positions at Ranbaxy -- an Indian multinational
pharmaceutical company, where he initially led the finance
organization of the largest business unit and later led the global
supply chain operations. Before Ranbaxy, Surjeet was employed with
the Kirloskar Brothers Ltd. in India. Surjeet holds a B.S. in
Finance and Accounting from the University of Pune and is a fellow
of Institute of Costs and Works Accountants, India and AICPA, USA.
As Patni's CFO, Surjeet's responsibilities would include setting up
the best processes in industry in Patni's finance organization
including robust management information systems to help drive
improvement in business profit management and corporate planning
processes. Surjeet would currently also continue to hold his
responsibility of heading the Mergers & Acquisitions activity
at Patni. Surjeet assumes his responsibilities as CFO of Patni from
August 14, 2006. At present, he is working together with Patni's
current CFO, Mr. Deepak Sogani, towards a smooth transition.
Commenting on the new appointment, Mr. Narendra K. Patni, Chairman
and CEO, Patni observed: "We are pleased to appoint Surjeet as our
CFO. His exposure to international, cross-functional business
environments and his extensive management experience makes him a
valuable asset for Patni. We look forward to his key contribution
towards helping Patni meet its objective of becoming a partner of
choice for global outsourcers." About Patni Patni Computer Systems
Limited (BSE:PATNIBSE:COMPUTBSE:NSE:BSE:PATNIBSE:NYSE:BSE:PTI) is a
global IT Services provider servicing Global 2000 clients. Patni
caters to its clients through its industry-focused practices,
including insurance, manufacturing, financial services,
telecommunications, and its technology- focused practices. With an
employee strength of over 12,000 and multiple offshore development
facilities across eight cities; Patni has 23 international offices
across the Americas, Europe and Asia-Pacific. Patni has registered
revenues of US$ 450 million for the year 2005. Patni's service
offerings include application development, application maintenance
and support, packaged software implementation, infrastructure
management services, product engineering services, business process
outsourcing and quality assurance services. Committed to quality,
Patni adds value to its client's businesses through
well-established and structured methodologies, tools and
techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMi Level
5 organization, assessed enterprise wide at P-CMM Level 3. In
keeping with its focus on continuous process improvements, Patni
adopts Six Sigma practices as an integral part of its quality and
process frameworks. For more information on Patni, visit
http://www.patni.com/ . Safe Harbor: Certain statements in this
release concerning our future growth prospects are forward-looking
statements, which involve a number of risks, and uncertainties that
could cause actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding fluctuations in earnings, our ability to
manage growth, intense competition in IT services including those
factors which may affect our cost advantage, wage increases in
India, our ability to attract and retain highly skilled
professionals, time and cost overruns on fixed-price, fixed-time
frame contracts, client concentration, restrictions on immigration,
our ability to manage our international operations, reduced demand
for technology in our key focus areas, disruptions in
telecommunication networks, liability for damages on our service
contracts, the success of the companies in which Patni has made
strategic investments, withdrawal of governmental fiscal
incentives, political instability, legal restrictions on raising
capital or acquiring companies outside India, and unauthorized use
of our intellectual property and general economic conditions
affecting our industry. Additional risks that could affect our
future operating results are more fully described in our Red
herring filing. The company does not undertake to update any
forward-looking statement that may be made from time to time by or
on behalf of the Company. DATASOURCE: Patni Computer Systems Ltd.
CONTACT: Sriya Kodial, of Text 100 for Patni Computer Systems,
+1-617-399-4918, ; Colin White, of Patni Computer Systems,
+1-617-914-8337, Web site: http://www.patni.com/
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