Virtusa Co-Founder and CEO Kris Canekeratne
: Virtusa Co-Founder and CEO Kris Canekeratne will leave this summer after growing the IT services provider to $ billion in sales over the past quarter century.
The Southborough, Mass.-based company, No. 38 on the CRN Solution Provider , said Canekeratne, 55, will exit both the Chairman and CEO roles by 30 June, less than 10 months after Virtusa was acquired by Baring Private Equity Asia (BPEA) for $ 2 billion. Virtusa’s board of directors has initiated the search for a new CEO and expects to finalise its selection in the coming weeks, the company said.
“With the added strength of BPEA’s ownership, the impressive performance of the business, and the strength of the leadership team we have in place, I’ve decided that it’s the right time for me to explore my next chapter,” Canekeratne said in a statement.
Canekeratne will be replaced as Chairman of Virtusa’s board on 15 May by Sander van ‘t Noordende, 57, who left Accenture at the end of after more than 32 years with the company, No. 2 on the CRN Solution Provider Van ‘t Noordende spent his final six years as chief executive of Accenture’s products practice but was passed ov
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Krishan A. Canekeratne (Kris) is the co-founder, chairman & CEO of Virtusa Corporation (NASDAQ: VRTU)[1], a business consulting and global information technology services company headquartered in Westborough, Massachusetts. In fiscal year , ending March 31, , the company reported revenues of $ million, a 43 percent year-over-year increase.
Career[edit]
After studying computer science and mathematics at Syracuse University and graduating in , Canekeratne worked at Independent Election Corporation of America, a subsidiary of Automatic Data Processing (ADP) for one year prior to founding INSCI Corporation, a supplier of digital document repositories and integrated output management products and services, in The company completed its initial public offering in
In , Canekeratne co-founded Virtusa, launching operations out of the basement of his home outside Boston. Taking advantage of software engineering talent in his birthplace of Sri Lanka, Canekeratne soon starting employing engineers there, many of whom initially worked out of his parents’ home in Colombo, Sri Lanka. In , Canekeratne co-founded eDocs[2], a provider of electronic account management
Virtusa Founder, CEO Kris Canekeratne To Exit After Year Run
‘With the added strength of [private equity firm] BPEA’s ownership, the impressive performance of the business, and the strength of the leadership team we have in place, I’ve decided that it’s the right time for me to explore my next chapter,’ says Canekeratne.
Virtusa Co-Founder and CEO Kris Canekeratne will leave this summer after growing the IT services provider to $ billion in sales over the past quarter century.
The Southborough, Mass.-based company, No. 38 on the CRN Solution Provider , said Canekeratne, 55, will exit both the chairman and CEO roles by June 30, less than 10 months after Virtusa was acquired by Baring Private Equity Asia (BPEA) for $2 billion. Virtusa’s board of directors has initiated the search for a new CEO and expects to finalize its selection in the coming weeks, the company said.
“With the added strength of BPEA’s ownership, the impressive performance of the business, and the strength of the leadership team we have in place, I’ve decided that it’s the right time for me to explore my next chapter,” Canekeratne said in a statement.
[Related: Virtusa To Be Acquired In $2 Billion Private E
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