Virtusa Announces CEO And Chairman Transition

Virtusa Announces CEO and Chairman Transition

Virtusa Corporation, a global provider of digital strategy, digital engineering and IT services and solutions that help clients change and disrupt markets through innovation engineering, today announced the transition of its Chairman and Chief Executive Officer, Mr. Kris Canekeratne, and the appointment of a new Chairman of its Board of Directors, Mr. Sander van ‘t Noordende.

Mr. Canekeratne has decided to step down from his position as Chairman and Chief Executive Officer of Virtusa. He has agreed to support the transition from his Chairman and CEO roles upon the appointment of successors and is expected to fully transition from the business by June 30, 2021.

The Board of Directors has initiated the search for a new CEO, which is expected to be finalized within the coming weeks. On May 15, 2021, Mr. Sander van ‘t Noordende will be appointed an independent member of the Board of Directors, and at the time of Mr. Canekeratne’s transition, Mr. Sander van ‘t Noordende will be appointed as the independent Chairman of the Board of Directors.

This smooth leadership transition comes at a time when Virtusa is particularly focused on the well-being of its workforce. Virtusa employees (like so many) have friends and family who have been affected by the recent surge in COVID-19 cases in India.

During this period of leadership transition, as always, Virtusa is committed to the health and safety of its employees. Virtusa’s leadership continues to work to provide employees with the resources and support they need during this challenging time.

Jimmy Mahtani, a Managing Director of BPEA, said: “Kris’ entrepreneurial spirit, passion and vision helped to build Virtusa into the IT Services and Digital Engineering powerhouse that it is today.

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He led Virtusa through a period of strong growth and has been devoted to our company and its employees and committed to providing leading solutions to our clients. On behalf of the entire organization, we thank Kris for his leadership over the past 25 years and we wish him the very best.

Looking to the future, we are pleased that Sander will join Virtusa as Chairman of the Board. Sander recently retired from Accenture, where he served as Group Chief Executive, and was a member of the Global Management Committee for 13 years. Today, Virtusa is well positioned for strong future growth with an exceptionally strong management team, market position, IT Services and Digital Engineering solutions.”

Kris Canekeratne said: “Twenty-five years ago, I began the journey of a lifetime. In those intervening years, we built Virtusa into a recognized market leader partnering with blue chip brands across the globe in the rapidly growing Digital Engineering services market.

Now we have begun a new chapter in our partnership with BPEA that will continue to evolve and provide even greater growth opportunities. With the added strength of BPEA’s ownership, the impressive performance of the business, and the strength of the leadership team we have in place, I’ve decided that it’s the right time for me to explore my next chapter. I am committed to working with BPEA, the Board and management team to ensure a smooth transition process.”

Sander van ‘t Noordende said: “I am delighted to join the Virtusa Board as chairman. Virtusa is an exciting company with great clients and people, well positioned for a world in which digital business will be the norm. I am looking forward to joining the team and being part of the next chapter of Virtusa.”

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