Business services provider Quess Corp has announced the separation of its Chairman and Managing Director roles as it seeks to scale up operations and reduce debt burden.
Suraj Moraje, currently Group CEO and Executive Director, will be elevated to Group CEO and Managing Director from April 1.
Ajit Isaac, currently Executive Chairman and MD, will continue in the role of Executive Chairman. The company also appointed N Ravi Vishwanath as Chief Financial Officer of the company effective April 1.
Vishwanath was previously CFO of Teamlease and Finance Director at Sun Microsystems. Subraman Ramakrishnan, the current CFO, is stepping down from the company on March 31 to pursue an entrepreneurial venture.
Moraje welcomed Vishwanath to the team. "His vast experience in the staffing industry, public markets and investor relations will bring great value to Quess over the coming years, as we continue to execute towards our North Star of achieving and sustaining 20 per cent return on equity."
The company reported rapid gross debt reduction from Rs 1,147 crore in Q4 FY20 to Rs 521 crore in Q3 FY21.
Quess helps large and emerging compes achieve higher productivity and greater workforce flexibility at lower costs through integrated outsourcing and technology offerings.
It has a team of 3.3 lakh employees across India, North America, Asia Pacific and the Middle East across platforms like workforce management, global technology services and operating asset management.
Quess serves over 3,000 clients worldwide. Established in 2007, it has a market capitalisation of Rs 8,071 crore.
( With inputs from ANI )
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