NIIT Ltd. CEO, Rahul Patwardhan calls it quits owing to family reasons. Rahul was appointed as CEO last year in April, 2015.
As per his LinkedIn post, he said “I completed 914 days at NIIT and away from my family. While my original plan was to stay for 5 years, it was becoming very difficult to justify the relative priority between family and work. This led to my decision to resign on 7th April.”
Commenting on his resignation, Rahul says, "it has been an exciting journey scripting the digital transformation story at NIIT. However I have to move on owing to compelling family reasons. I thank the NIIT management for giving me the opportunity to lead the company. I am committed to ensuring a smooth transition and ensuring the activation of this year’s plans. Sapnesh is just the right person to drive the growth forward by giving it a new momentum and direction."
He is an IIM, Calcutta alumni with more than 25 years of experience in Application Outsourcing Services and Retail/Corporate Training. Before NIIT, He has worked with Patni Group and Logica, which is a part of CGI now. Rahul has earlier worked with NIIT for close 20 years as the President for Europe and APAC Software Business.
As per reports, following to the news of his resignation, shares of the company fell 10.92% to Rs. 73.80 in trade.
Meanwhile, the company has appointed Sapnesh Lalla, President at NIIT (USA) Inc.as CEO. He will take over as CEO from 1 August.He currently heads the Global Corporate Business (GCB) which constitutes nearly 70% of the global business of NIIT. He has been with NIIT for 25 years and has served both in India and the US.