Persistent Systems CEO Mr. Christopher O’Connor resigns for personal reasons

Pune-based mid-size IT firm Persistent Systems today announced the resignation of its CEO Christopher O’Connor. He said that he was resigning for personal reasons through a letter dated August 9, 2020. The company accepted his resignation. His resignation will be effective immediately.

Christopher O’Connor

O’Connor had taken over as CEO in April 2019. He had since put in a new strategy in place, changing how the different verticals have been structured. He had also brought about changes in senior management. Further, he had some senior managers leave the company during his tenure.

"Over the past year and a half, we have done significant work to strengthen our operational and offering capabilities to better serve a rapidly expanding client base. At a personal level, I’ve held multiple interests beyond technology, and the pandemic, with its constraints on travel contributing to improved personal health, have given me ample time to appreciate those life’s blessings,” said Chris O’Connor in a statement.

The company had reported a 9.5% increase in revenue for the quarter to June $131 million, up 3.1% sequentially. In rupee terms, revenue also increased by 19.1% to ₹ 991.3 crores. The profit went up 9.1% to Rs 90 crore.

The Board thanks Chris for his contribution to the Company. They also stated that the changes he brought will help the Company continue its growth journey.

“We thank Chris for his contribution to Persistent over the last eighteen months. He helped in building out certain capabilities and improved positioning to tap the opportunities, which helped us achieve a good quarter under difficult circumstances. On behalf of the Board and the Company, I wish Chris all the best in his future endeavours,” said Anand Deshpande, Chairman, and Managing Director.