Persistent Systems announces Vinit Teredesai as new chief financial officer

Persistent Systems (BSE & NSE: PERSISTENT), a prominent technology services company, announced today the appointment of Vinit Teredesai as its new Chief Financial Officer (CFO), effective immediately. Vinit Teredesai succeeds Sunil Sapre, who is set to retire later this year after a commendable nine-year tenure. This strategic executive shift is part of Persistent Systems’ broader vision to surpass $2 billion in revenue and enhance stakeholder value.

Seamless Transition in Financial Leadership

Vinit Teredesai brings over 28 years of comprehensive experience in finance, accounting, auditing, taxation, fund raising, risk management, mergers and acquisitions, and corporate restructuring. His previous roles include CFO positions at LTIMindtree Limited and Mindtree Limited, as well as CFO and CIO at KPIT Technologies Limited. A highly qualified professional, Teredesai holds credentials as a Chartered Accountant, Cost and Management Accountant, and a Certified Public Accountant in the United States. He is also an alumnus of the prestigious Sloan School of Management at Massachusetts Institute of Technology (MIT), where he focused on strategy, innovation, and technology.

Leadership Comments on the Transition

Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent, expressed his enthusiasm about Vinit’s appointment. “It’s my pleasure to welcome Vinit to the Persistent team. Vinit’s rich industry experience and expertise in the finance domain will be a valuable addition to the executive team in the next orbit of our growth journey to $2 billion in revenue and beyond, while ensuring the creation of enhanced stakeholder value,” said Kalra.

Sunil Sapre, the outgoing CFO, also commented on the transition. “I am very happy to welcome Vinit and wish him the best as he steps in as the next CFO of the Company. I will be working closely with him to ensure a smooth transition,” Sapre stated. He also expressed gratitude to the Board, customers, partners, investors, analysts, vendors, and other stakeholders for their support throughout his tenure.

Looking Ahead

With Vinit Teredesai at the financial helm, Persistent Systems is poised to continue its trajectory of growth and innovation. The company is focusing on leveraging its strengths in technology services to reach new heights in revenue and market influence, supported by Teredesai’s proven track record in financial and strategic leadership.