Ashok Vemuri | |
|---|---|
 | |
| Born | April 22, 1968 |
| Citizenship | Indian-American |
| Education | St. Stephen's College, Delhi |
| Alma mater | Indian Institute of Management, Ahmedabad |
| Occupation | Board of Director |
| Years active | 1992-present |
| Organization | Kroger |
| Known for | Infosys |
Ashok Vemuri (born April 22, 1968) is an Indian-American business executive, [1] [2] and Board of Director for Financial Policy and Public Responsibilities at Kroger. [2] [3] Vemuri was the former chief executive officer of IGATE and Conduent. [4]
Ashok Vemuri was born on April 22, 1968, [1] and spent his childhood in India. [5] [6] He received a bachelor's degree [7] in physics from St. Stephen's College, Delhi. [8] Vemuri subsequently completed his postgraduate diploma [7] in business management at the Indian Institute of Management, Ahmedabad, [8] [7] [9] which is equivalent to a master's degree. [7]
In 1992 [10] Vemuri began working in investment banking at Deutsche Bank AG [11] and Bank of America. [8] Vemuri joined Infosys [10] in 1999, [7] where he went on to work closely with [8] and be mentored by Narayana Murthy, [10] the co-founder and then-CEO of the company. [8] As of May 2003, Vemuri was serving as vice president and regional manager of sales for Canada and the northeast region of the United States. [12] After management changes in June 2009, Forbes India reported that "Subhash Dhar, Ashok Vemuri, V. Balakrishnan and B.G. Srinivas... are now coming under [the limelight at Infosys]. These five are among a band of leaders being groomed to take over from the founding team." [13] Vemuri was soon serving as a senior vice president [14] of Infosys, [7] and became a member of the company's executive council. [14]
Vemuri went on to hold management roles at Infosys. For a time he served as chairman of the company’s operations in China, [8] also serving on the boards of Infosys in the Americas [10] and Infosys Public Services. [8] Beyond heading Infosys' operations in Canada and eastern North America, [7] he furthermore headed both the Financial Services & Insurance Business division and the Banking, Capital Markets & Strategic Global Sourcing division. [7] Vemuri was appointed to the board of Infosys in June 2011, while retaining his roles as senior vice president and chief of the banking division. [15] Infosys appointed Vemuri the global head of its Manufacturing & Engineering Services division in April 2012. [7] Despite speculation in the press that Infosys was considering Vemuri as a choice for CEO, [9] in September 2013 [7] [16] the press reported that he would instead by joining iGATE. [16]
On September 16, 2013, Vemuri was appointed CEO and president [7] of the IT services provider iGATE, [7] [16] Early in his tenure, Vemuri assured shareholders that the $770 million in debt accrued by iGATE in 2011 would be dealt with in the "near-term," and by March 2014 iGATE had raised $325 million to repay part of the debt. [17]
After the company beat analysts expectations for first quarter earnings in 2014, [17] that April the Economic Times reported that Vemuri had "abandoned the lofty revenue target set by his predecessor" in an effort to set "short-term, achievable growth targets for the company." [17] In the first half of 2014, under Vemuri, iGATE engaged in a "hiring for growth" program and added 2,500 employees, bringing the headcount to 32,742 employees by June 2014. [18] In July 2014, Vemuri was credited with securing a deal with CNA Financial, estimated to be worth around $200 million. [18]
By March 2015, iGATE's stock value had increased since the start of Vemuri's tenure, [19] with the company reaching a market capitalization of $3.3 billion. [19] iGATE also had around 33,000 employees and revenues of about $1.3 billion, [1] much higher than the annual revenue of $851.6 million from 2013. [19] During his first eighteen months at iGATE, the press noted that Vemuri had helped "the firm’s market capitalisation increase almost three times." [9] In April 2015, the French IT company CapGemini announced it would buy iGATE for USD $4 billion, creating a larger company with clients such as General Electric and Royal Bank of Canada. [20] [21] Vemuri led iGATE's side of the sale, [2] [22] and in July 2015 was voted into Capgemini's group management board. [20] Vemuri resigned as iGATE CEO in October 2015. [7] [22]
Xerox Corporation announced on June 14, 2016 that Vemuri had been chosen as the CEO of Conduent, Xerox's business process outsourcing unit, [2] [22] which was in the process of being separated as a new independent company. [1] [2] The outsourcing division had been struggling to meet its financial benchmarks, with the Economic Times opining that "Xerox is betting on IT industry veteran Vemuri's experience to help the company revive its outsourcing business." Xerox chairman and CEO Ursula Burns stated Vemuri had been selected because of his "deep industry experience and proven track record of leading growth and corporate transformations." [23] Vemuri was appointed executive vice president and CEO [1] of Xerox Business Services LLC, effective July 1. [7] He became the CEO of Conduent after the separation of Xerox into two companies later that year. In May 2019 he resigned from the post of CEO in 2019 Q1 Earnings call. He left Conduent early August 2019. [24]
Vemuri served on the board of directors for a number of companies. [7] Vemuri was elected to the Forum of Young Global Leaders (YGL) by the World Economic Forum in 2009, [8] [25] [26] and from June 2011 until September 2013 he served on the board of Infosys Limited. While with Infosys, he also had tenures on the boards of Infosys Consulting, Infosys Public Services, and Infosys Technologies (China) Company Limited. From September 2013 until October 2015 he served on the board of iGATE Corporation, also joining the board of iGate Global Solutions on September 17, 2013. Vemuri joined the Board of IT Governors at the World Economic Forum [7] in 2014, [5] and Capgemini's group management board in July 2015. [20] He served on the board of visitors of the Fuqua School of Business at Duke University. [27]
| Year | Award | Category | Result |
|---|---|---|---|
| 2008 | Business Today | India's 25 Hottest Young Executives [25] | Shortlisted |
| 2013 | Asian American Business Center | 50 Outstanding Asian Americans in Business [5] [6] | Shortlisted |
| 2015 | Enterprise Asia | Outstanding Entrepreneurship Award [7] [5] | Won |
| IAIR | CEO of the Year [7] [19] | Won | |
Vemuri lived with his wife in New Jersey as of 2009, [13] where he continued to be based as of 2016. [1]
Xerox Holdings Corporation is an American corporation that sells print and digital document products and services in more than 160 countries. Xerox is headquartered in Norwalk, Connecticut, though it is incorporated in New York with its largest population of employees based around Rochester, New York, the area in which the company was founded. The company purchased Affiliated Computer Services for $6.4 billion in early 2010. As a large developed company, it is consistently placed in the list of Fortune 500 companies.
Outsourcing is a business practice in which companies use external providers to carry out business processes, that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another.
Infosys Limited is an Indian multinational technology company that offers business consulting, information technology, and outsourcing services. Founded in Pune, the company is headquartered in Bangalore.
Nagavara Ramarao Narayana Murthy is an Indian billionaire businessman. He is one of the seven co-founders of Infosys, and has previously served as the chairman, chief executive officer (CEO), president, and chief mentor of the company before retiring and taking the title chairman emeritus. As of August 2024, his net worth was estimated to be $5.1 billion, making him the 606th richest person in the world according to Forbes. Murthy is the father-in-law of Rishi Sunak, the former Prime Minister of the United Kingdom from 2022 to 2024.
Capgemini SE is a French multinational information technology (IT) services and consulting company, headquartered in Paris, France.
Affiliated Computer Services Inc. (ACS) was a company that provided information technology services as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. ACS was based in Dallas, Texas. ACS was ranked at number 341 on the 2010 Fortune 500 list. Founded in 1988, by Darwin Deason, ACS operated in nearly 100 countries, generating over $6 billion annually. As of September 2009, ACS employed approximately 74,000 people.
One of the most dynamic and fastest growing sectors in the Philippines is the information technology–business process outsourcing (IT-BPO) industry. The industry is composed of eight sub-sectors, namely, knowledge process outsourcing and back offices, animation, call centers, software development, game development, engineering design, and medical transcription. The IT-BPO industry plays a major role in the country's growth and development.
Infosys BPM, the business process management subsidiary of Infosys, was set up in April 2002. Infosys BPM provides integrated outsourcing and transformation services. It is headquartered in Bengaluru, India.
S. D. Shibulal, better known as Shibulal, is an Indian business executive. He was the chief executive officer and managing director of Infosys, and one of its seven founding members. He stepped down from the post of CEO and MD on 31 July 2014 and was succeeded by the first non-founder CEO of Infosys Dr. Vishal Sikka. He is the president of the Infosys Science Foundation for the year 2015.
IGATE Corporation was an IT services company, headquartered in Bridgewater, New Jersey, United States. The firm operated in North America, Asia, Europe, Japan and Australia, providing technology consultancy and services. Its revenues in 2014 were over US$1.2 billion, and it has a workforce of over 31,000. The firm had over 70 offices and customer delivery centers in North America, Europe, Asia and Australia. On April 27, 2015 French IT services group Capgemini unveiled a deal to acquire IGATE for $4 billion.
Phaneesh Murthy is an Indian technology businessman. He was director of Infosys Ltd from 2000 to 2002. Subsequently, he became the Chief Executive Officer of iGATE Corporation in 2003, after the company acquired his start-up Quintant. Murthy later became President in 2006 and was re-elected in 2010. He served as President and CEO until May 2013. He currently serves as the CEO of Primentor, a consulting agency that mentors senior executives to promote hyper-growth.
Darwin Deason is an American billionaire businessman and political donor. He founded Affiliated Computer Services in 1988, and sold it to Xerox for $6.4 billion in 2010, eventually becoming Xerox's largest individual shareholder.
Srinivas Rao Kandula is an Indian business executive, entrepreneur, and Chairman of Capgemini India operations. Prior to his new role, between January 2016 and December 2018, Srinivas Kandula was CEO of Capgemini in India and member of the executive committee of the Capgemini Group. He was also a former Member of the Executive Council and head HR in IGATE Corporation, having led their HR, Quality, Marketing and Business Strategy functions globally.
Abidali Zainuddin Neemuchwala is an Indian business executive. He was the chief executive officer (CEO) and managing director (MD) of Wipro from February 2016 to June 2020. On 31 January 2020, Wipro announced that he would be stepping down due to family commitments, once a successor is appointed.
Conduent Inc. is an American business services provider company headquartered in Florham Park, New Jersey. It was formed in 2017 as a divestiture from Xerox. The company offers digital platforms for businesses and governments. As of 2021, it had over 31,000 employees working across 22 countries.
Infosys Consulting is a management consulting, IT consulting practice within the larger Infosys organization which works in strategy, IT transformation, change management and business analytics. Infosys Consulting operates globally and currently has offices in 18 countries across the Americas, Asia Pacific and Europe. The firm was officially launched in 2004 as a fully owned subsidiary of Infosys chaired by N. R. Narayana Murthy, one of the co-founders of Infosys. For quarter-end March, 2016 Infosys Consulting and Package Implementation were reported as 33.2% of the whole of Infosys' revenue, contributing to the reported earnings of 23 cents a share on revenue of $2.4 billion that December for Infosys.
Salil Parekh is the current chief executive officer and managing director of Infosys. Parekh took over from interim CEO U B Pravin Rao on 2 January 2018.
Ashok Trivedi is an entrepreneur, investor, and philanthropist best known as the Co-Founder and Co-Chairman of Mastech Inc. and IGATE. Born in Lucknow, India, Trivedi graduated from the University of Delhi, before moving to the United States of America where he earned his MBA from Ohio University.
Sunil Wadhwani is an entrepreneur, investor, and philanthropist. He is best known as the co-founder and CEO Mastech, Inc. and IGATE. Born in Delhi, India, Sunil graduated from the Indian Institute of Technology, Madras, before moving to the United States of America to earn a degree from Carnegie Mellon University.
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