India, 3rd April 2023: Cyient, a leading global technology solutions company, announced executive leadership appointments to accelerate its technology led growth. Earlier in the year, the board of directors of Cyient Limited had approved the reorganization of the company into two separately operating entities to foster their individual growth momentum. Subsequently a Draft Red Herring Prospectus (DRHP) was filed to take the Design Led Manufacturing (Cyient DLM) business through an Initial Public Offer (IPO) with the Indian market regulator.
With immediate effect, Cyient’s board of directors has appointed Krishna Bodanapu as Executive Vice Chairman and Managing Director of Cyient Limited. Karthikeyan (Karthik) Natarajan has been appointed as CEO and continues to be Executive Director of Cyient Limited. Prabhakar Atla has been appointed as the CFO designate, keeping in mind the upcoming retirement of Ajay Aggarwal, CFO of Cyient Limited, on April 20th 2023. Prabhakar will take over the role of CFO on that date and report to the CEO. As announced earlier, Antony Montalbano has been appointed as the CEO of Cyient DLM. Regulatory and members’ approval, as required and applicable, will be obtained. The CEOs of Cyient Limited and Cyient DLM will report to Krishna Bodanapu.
Commenting on the appointment, MM Murugappan, Non-Executive Chairman, Cyient, said, “Krishna has been instrumental to the growth, diversification, and advancement of Cyient during his tenure as Managing Director and CEO. With this reorganization, I am confident that his vision for the Company will continue to be successfully executed. I thank Krishna for his leadership, commitment, and unwavering drive to take Cyient to new heights”.
Krishna Bodanapu, Executive Vice Chairman & MD, Cyient commented on the appointment of Karthik Natarajan, “Over the past three years, Karthik has steered Cyient in its transformation to a technology solutions company. With his deep understanding of industries and customer needs, he has been a driving force behind the company’s success. I wish him the best in his new role.”
Karthik Natarajan said on his appointment, “I am delighted to take on this new role, to drive technology led growth for the company. We will focus on partnering with our customers to create Digital and Connected Enterprises, Sustainable Industries and an Autonomous World. I look forward to working with the team to apply technology imaginatively to solve problems that matter.”
On Prabhakar’s appointment, Krishna Bodanapu said, ” Prabhakar is a global leader who has managed multiple roles at Cyient. He has successfully led strategy, operations, sales, and P&L for various businesses and geographies in the company. His global business expertise and diverse experience at Cyient provides him with a unique vantage point to contribute to our growth trajectory in the coming years. I wish him success in his new role.”
Prabhakar Atla expressed, “I would like to thank the board and the leadership of Cyient for this opportunity to serve the organization. I have greatly enjoyed my tenure of 18 years, in various capacities, at Cyient and remain grateful to all my colleagues who have enriched it with their kindness and support. I am proud of what we have achieved as an organization on the foundation of our core values, and I eagerly look forward to the next phase of our growth ahead.”
