Chief executive officer and executive director of information technology midcap Persistent Systems, Christopher (Chris) Robert O’Connor, has tendered his resignation with immediate effect, the company said in a statement to the exchanges.
O’Connor had joined Persistent Systems from IBM in February 2019; he used to lead the Internet of Things unit at the company. He has informed that the resignation is due to his personal reasons and has confirmed that there is no material reason for his resignation, said the company in a statement. “The board has noted and accepted the resignation and thank Chris for his contribution to the company and wishes him the best in his future endeavours," said the statement.
O’Connor tendered his resignation on 9 August. He worked with Persistent for one year and seven months.
Persistent Systems has struggled to retain top talent in the past as well. Last year, immediately after the appointment of O’Connor as CEO, the company's chief product officer, Nara Rajagopalan, and president, technology services, Sudhir Kulkarni resigned. They had worked with the company for six and 11 years respectively.
Persistent Systems reported profit of Rs90 crore, up 9% year-on-year and 7.4% sequentially, for the first quarter ended 30 June. The company reported revenue of ₹991.3 crore, up 19% year-on-year and 7% quarter-on-quarter. Analysts noted it as one of the top midcap performances in the quarter.
Most new business has been generated from digital and cloud-based projects to extend enterprise services, said O’Connor. He added that client curiosity remained high, driving the deals pipeline in Q1 during a recent interaction with Mint.
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