French IT services company Capgemini said Ashok Vemuri, CEO of IGATE, has resigned from the company to pursue other interests outside of the company. The announcement from the IT major comes six months after it acquired U.S.-based IT services company iGATE for $4 billion. “Ashok Vemuri, CEO of IGATE, having successfully contributed to the transition process, leaves in a mutual agreement to pursue other interests outside of Capgemini,” a company statement said. Ashok Vemuri joined U.S.-based IGATE as CEO in September 2013.
The French company bought iGate for nearly $4 billion in April and, according to the Economic Times, iGate finance chief Sujit Sircar would now take interim responsibility of the CEO's role.
Vemuri, who was a 15-year veteran at Infosys will leave iGate wealthy thanks to a personal equity of $19 million according to regulatory filings. It isn't immediately apparent how much of that he will actually pocket.
Vemuri took over the reins of the US-based iGate at a time when the Fremont, California-based company was facing formidable challenges, including the risk of losing its biggest customer, Royal Bank of Canada, Mint reported in September 2013.