If you are stepping into a corner office then you are bringing in more to the table than your last job title. That is the message one may get from the appointment of a new CEO at ITC Infotech. On February 1, Sudip Singh will take charge as the new CEO at ITC Infotech. He comes from Infosys, where he is currently the global head of the energy, utilities, resources and services. But then, these are not the focus areas for ITC Infotech. Its key verticals include manufacturing, financial services, retail and travel. So, when Business Today put this to S Sivakumar, the vice chairman of ITC Infotech, he said: Energy & Utilities is only the latest business portfolio he was leading. In his long career, Sudip Singh has had a well-rounded exposure across verticals and geographies, as well as different roles in the IT Services industry. What Sudip would bring to the table is his appreciation of the industry and his demonstrated ability to build and manage businesses at scale.
On asking the company's future plans, Sivakumar said, "CEO is the right person to spell out the company's strategy on how it will leverage its strengths to build further scale. While he will do that at an appropriate time, our aspiration is for ITC Infotech to gain global leadership in select areas of specialisation across the verticals it operates in."
Sudin Apte, CEO and research director at Offshore Insights and one who has over the years, looked at both Infosys, and ITC Infotech, among other companies, explained what the move could mean for Infosys. "Every large company will see exits in its natural course and at this point in time, we do not see any extraordinary exodus at Infosys and do not think this move will have any serious impact on Infosys," he said.
On what it could mean for ITC Infotech, he said: This company took off very well but in the last few years, we have not heard much from the company in terms of growth and client wins and I hope the new leader brings in the lost glory of the company.
ITC Infotech, for the year ended March 31, 2018, posted a consolidated total income of Rs 1652.10 crore and a profit after tax of Rs 40.42 crore. Its report and accounts for the year ended March 31, 2018, says the company during the year "continues its transformation efforts to become a specialised full service provider led by Business and Technology Consulting with best-in-class services and solutions in select business verticals. The transformation journey this year focused on making the company future ready, enhancing profitability and institutionalising capabilities. The capabilities developed in providing digital solutions like data, IoT and product engineering are beginning to see market traction. Also, it says, it is "concentrating on building domain specific solutions and on bringing automation in software delivery and other internal processes".