Prashant Ranade elevated to executive vice chairman of Syntel

TROY, USA: Syntel Inc. announced that Prashant Ranade, Syntel's current CEO and president, will become executive vice chairman of Syntel Inc.'s Board of Directors effective April 21, 2014.

The company's Board of Directors has appointed Nitin Rakesh to the positions of CEO and president, succeeding Ranade, effective April 21, 2014.

Nitin Rakesh will move into the CEO and President role from his current position as President-Americas, Business Development and Near Shoring Center. Before rejoining Syntel, Nitin served as CEO and MD of Motilal Oswal Asset Management Co. Ltd, a financial services company, from September 2008 to September 2012. He previously developed and led Syntel's Knowledge Process Outsourcing business from 2002 until 2008, playing a pivotal role in building KPO into a high performing service line.

"Under Prashant's leadership, Syntel has transformed into one of the best performing companies in our industry. He has been instrumental in driving a culture of customer centricity, growth orientation and operational excellence across the organization," said Bharat Desai, Syntel's chairman and co-founder. "On behalf of 22,000+ Syntellers, I thank Prashant for his leadership as CEO and look forward to his continued active involvement, mentorship and strategic guidance as executive vice chairman."