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Syntel Appoints Prashant Ranade as Chief Executive Officer and President

Syntel (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced that the Company’s Board of Directors has appointed Prashant Ranade to the positions of Chief Executive Officer and President, effective immediately.

Mr. Ranade has more than 30 years of leadership experience in large global corporations coupled with deep domain knowledge in healthcare and life sciences, high-tech engineering and manufacturing, and supply chain and logistics automation.

He has been a member of Syntel’s Board of Directors since June 2007 and formerly served as President and CEO of Siemens Logistics & Assembly Systems, Inc.

“Prashant is uniquely qualified for this role, based on his professional background and his knowledge of the Company,” said Bharat Desai, Syntel’s Chairman. “I am confident that his global perspective, along with a strong focus on operational excellence and value creation will enable Syntel to make the leap to the next level.”

"I am honored to accept this opportunity to lead Syntel," said Prashant Ranade. "Syntel has a strong track record of delivering innovative solutions over the past three decades, and I look forward to building on this foundation to continue helping our clients win in the marketplace."

Syntel’s former President and CEO, Keshav Murugesh, has resigned from Syntel to pursue other opportunities.

“Over the last eight years, Keshav has been instrumental in driving Syntel’s growth and evolution into a truly world class organization,” said Bharat Desai. “I would like to thank Keshav for his immense contribution to Syntel, and we wish him the best in his future endeavors.”