MphasiS Board reconstituted

Bangalore Jun 28 (UNI) MphasiS, a leading provider of IT services and BPO solutions, has reconstituted its Board following the official closure of the open offer made by Electronic Data Systems Corporation (EDS) to acquire a majority stake in the company.

Mr Stephen Heidt, Vice President of Business Workforce and Capacity Management, EDS, would be the new Chairman of the Board. He would take over from Mr Jaithirth Rao, who would relinquish the designation to meet statutory requirements under the listing agreement executed with the stock exchanges.

Mr Rao would continue to serve on the Board as CEO and Managing Director of the company.

Also representing EDS on the Board would be Mr Thomas Haubenstricker and Mr Ron Vargo, co-CFOs at EDS, Mr Paul Currie, Executive Vice President, Corporate Strategy and Business Development, Mr Joseph Eazor, Vice President and General Manager Asia Pacific North Region and Mr Douglas Davis, Vice President Service Delivery-Europe, Middle East and Africa, a company release here said.

Mr Jeroen Tas had also stepped down as a Board member, but would continue to serve the Board as a special advisor. Other Board members who have stepped down due to the recast were Richard Braddock, B R Menon and N Subramaniam. Mr Ashish Dhawan had already resigned from the Board last week.

The Board at its meeting held today also approved in principle the merger of EDS India into MphasiS BFL Limited and appointed legal counsel and valuers to work out a detailed scheme of amalgamation.

UNI VK RG HVB1741