Persistent Systems Appoints Vinit Teredesai as Chief Financial Officer

Persistent Systems, a global services and solutions company based in Santa Clara, Calif., and Pune, India, made a significant announcement on May 15, 2024. The company appointed Vinit Teredesai as its new Chief Financial Officer (CFO), effective immediately. Teredesai will be taking over from Sunil Sapre, the current Executive Director, who is set to retire later this year.

Teredesai brings with him over 28 years of experience in finance, accounting, auditing, taxation, fund raising, risk management, mergers and acquisitions, and corporate restructuring. He previously served as the CFO at LTIMindtree Limited and Mindtree Limited, as well as the CFO and CIO of KPIT Technologies Limited. Teredesai is a qualified Chartered Accountant, Cost and Management Accountant, and a Certified Public Accountant in the United States. He has also completed a General Management program from the Sloan School of Management at the Massachusetts Institute of Technology (MIT).

Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent, expressed his excitement about Teredesai joining the team, highlighting his industry experience and expertise in the finance domain. Kalra also thanked Sunil Sapre for his contributions to the company over the past 9 years and mentioned that Sapre will continue to be a key part of the executive team and board until his retirement.

In response, Sunil Sapre, the outgoing CFO, welcomed Teredesai and expressed his gratitude to the Board, stakeholders, and other partners for their support throughout his tenure.

Persistent Systems, with over 23,800 employees in 21 countries, is a global leader in Digital Engineering and Enterprise Modernization. The company is committed to aligning its strategies and operations with universal principles on human rights, labor, environment, and anti-corruption.

With this new appointment, Persistent Systems aims to continue its growth journey towards reaching $2 billion in revenue and beyond, while creating enhanced stakeholder value. The company has seen significant growth since 2020 and is recognized as the fastest-growing Indian IT Services brand according to Brand Finance.

For more information, visit the original press release at https://www.prnewswire.com/news-releases/persistent-appoints-vinit-teredesai-as-chief-financial-officer-302146720.html.