Persistent Systems Ltd board reappoints Dr. Anand Deshpande as Chairman and MD

The Board of Directors of Persistent Systems Ltd, at its meeting through Tele-conferencing held on Tuesday, June 9, 2020 concluded at 2046 HRS (IST), has approved the re-appointment of Dr. Anand Deshpande (DIN: 00005721), Chairman and Managing Director of the Company as the Managing Director of the Company, whose term will expire at the ensuing Annual General Meeting. This re-appointment is subject to the approval of the Members in the ensuing Annual General Meeting.

The said re-appointment is for a period of 5 (Five) years i.e. up to the conclusion of the 35th Annual General Meeting of the Company to be held on or before September 30, 2025 and will be liable to retire by rotation.

Dr. Anand Deshpande is the Founder, Chairman and Managing Director of Persistent Systems since its inception and is responsible for the overall leadership, strategy and management of the Company.

He holds a B. Tech. (Hons.) in Computer Science and Engineering from the Indian Institute of Technology (IIT), Kharagpur, and a M.S. and Ph.D. in Computer Science from Indiana University, Bloomington, Indiana, USA.

As a true technology visionary, Dr. Deshpande's strengths lie in identifying and investing in nextgeneration technologies and encouraging internal entrepreneurship to ensure that Persistent Systems stays at the forefront of technology innovation.

Dr. Deshpande has been the driving force in growing Persistent Systems from its inception in 1990, to the publicly-traded global Company of today. He has been recognized by his alma mater, IIT Kharagpur, as a Distinguished Alumnus in 2012 and by the School of Informatics of Indiana University with the Career Achievement Award in 2007.

Dr. Deshpande has served numerous positions at various professional and non-profit organizations viz. NASSCOM's Executive Council, ACM (Association for Computing Machinery) India, where he was the first President, SEAP (Software Exporters' Association of Pune) and Pune Chapter of CSI (Computer Society of India), CII's Pune Zonal Council and as a Trustee in the Computer History Museum.

Shares of PERSISTENT SYSTEMS LTD. was last trading in BSE at Rs.583.95 as compared to the previous close of Rs. 572.45. The total number of shares traded during the day was 1626 in over 299 trades.

The stock hit an intraday high of Rs. 584 and intraday low of 574. The net turnover during the day was Rs. 941680.

Source : Equity Bulls

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