IPO-bound IT company Cyient has rejigged top management roles with the elevation of its managing director and CEO Krishna Bodanapu to the position of executive vice-chairman and MD.
The company has elevated executive director (ED) and Chief Operating Officer Karthik Natarajan as ED and CEO.
"With immediate effect, Cyient's board of directors has appointed Krishna Bodanapu as Executive Vice Chairman and Managing Director of Cyient Limited. Karthikeyan (Karthik) Natarajan has been appointed as CEO and continues to be Executive Director of Cyient Limited," the company said in a statement.
The board of directors of Cyient Limited had approved the reorganization of the company into two separate operating entities to foster their individual growth momentum.
Subsequently, a Draft Red Herring Prospectus (DRHP) was filed to take the Design Led Manufacturing (Cyient DLM) business through an Initial Public Offer (IPO) with the Indian market regulator.
Cyient has appointed President and Global Head Aerospace, Rail & Communications Prabhakar Atla as the CFO-designate, keeping in mind the upcoming retirement of CFO Ajay Aggarwalon on April 20.
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Atla will take over the role of CFO on that date and report to the CEO.
The company has appointed Antony Montalbano as the CEO of Cyient DLM. The CEOs of Cyient Limited and Cyient DLM will report to Krishna Bodanapu, the statement said.
