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Majesco Ltd (MAJC.NS)

MAJC.NS on National Stock Exchange of India

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18 Sep 2018
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Summary

Name Age Since Current Position

Venkatesh Chakravarty

2015 Independent Non-Executive Chairman of the Board

Ketan Mehta

56 2015 President, Chief Executive Officer, Executive Director

Farid Kazani

49 2014 Chief Financial Officer, Managing Director, Treasurer, Executive Director

Edward Ossie

61 2015 Chief Operating Officer

William Freitag

53 2015 Executive Vice President

Chad Hersh

42 Executive Vice President

Prateek Kumar

39 2015 Executive Vice President

Manish Shah

44 Executive Vice President

Ann Massey

57 Senior Vice President - Finance

Lori Stanley

51 2017 General Counsel

Radhakrishnan Sundar

2015 Executive Director

Varika Rastogi

2018 Company Secretary

Rajesh Hukku

60 2018 Director

Wes Thompson

2016 Director

Arun Maheshwari

2015 Non-Executive Director

Madhu Dubhashi

2015 Non-Executive Independent Director

Biographies

Name Description

Venkatesh Chakravarty

Mr. Venkatesh N. Chakravarty is Independent Non-Executive Chairman of the Board of the company. He is an Associate Member of the Chartered Insurance Institute, UK ACII, UK). He holds a Master’s degree in Administrative Management from Bajaj Institute of Management Studies and a Bachelor of Arts Degree in Economics, Political Science & Sociology. Mr. Chakravarty has more than 28 years of experience in the Insurance Industry. His experience spans across Insurance, Management Consulting, & Reinsurance. He has worked in various capacities in the Insurance industry beginning with Life Insurance Corporation of India, Eagle Star International in the Middle East and for KPMG India where he was an Associate Director, Management Consulting, responsible for Insurance practice. He joined Swiss Re Life & Health in September, 1998 as a Business Development Manager in London responsible for Life & Health business in India & Sri Lanka. He worked in Swiss Re, London for nearly a year before assuming responsibility in Swiss Re, Mumbai office. He has been the Head of Life & Health Business and a Director on the Board of Swiss Re Services India Pvt. Ltd. for more than 10 years. He resigned as a Director from Swiss Re on March 4, 2013 and has moved on to pursue personal interests.

Ketan Mehta

Mr. Ketan Mehta is President, Chief Executive Officer, Executive Director of the company. He has served as President and CEO of Majesco US since 2000 and member of Majesco US’s Board of Directors, since 1992. Mr. Mehta co-founded Mastek in 1982 and has served as a member of Mastek’s board of directors since then, where, among other committee service, he is a member of the Nomination and Remuneration Committee. During his tenure of over 32 years with Mastek and its affiliates, Mr. Mehta has handled multiple functions including sales, delivery and general management. Mr. Mehta is the driving force behind the conceptualization and the execution of Majesco’s insurance strategy, including acquisition and integration of four insurance technology companies over the last nine years. Prior to that, Mr. Mehta also spearheaded Mastek’s joint venture with Deloitte Consulting. Ketan holds a PGDM from the Indian Institute of Management (“IIM”), Ahmedabad.

Farid Kazani

Mr. Farid Kazani is Chief Financial Officer, Managing Director, Treasurer, Executive Director of the company. He is Managing Director of Majesco. Mr Kazani has served as CFO and Treasurer of Majesco US since 2011. Mr. Kazani has served as Group CFO and Director of Finance of Mastek since 2009. Prior to joining Mastek, Mr. Kazani served as CFO - India and Global Financial Controller for Firstsource Solutions Ltd., an IT-enabled services and business process outsourcing firm, where, among other things, he played a central role in the company’s initial public offering in 2007. Mr. Kazani’s earlier experience also includes positions with a number of large businesses in India, including RPG Enterprises, BPL Mobile, Marico Industries Ltd. and National Organic Chemical Industries Ltd. Mr. Kazani has over 23 years of professional experience in the field of corporate finance. He earned a Bachelor’s of Commerce from Mumbai University and holds qualifications as a Member of the Institute of Cost Accountants of India (Grad. CWA) and Chartered Accountant (ACA).

Edward Ossie

Mr. Edward Ossie is Chief Operating Officer of the company. Since January 2015, responsible for driving the company’s growth, strategy, operational initiatives, marketing, partnerships and corporate development. Prior to joining Majesco US, Mr. Ossie was Vice President and Director at Corum Group, a Seattle, WA-based global mergers and acquisitions advisory firm focused on the technology sector, from 2011 to 2014. In this role, he advised a number of high-growth technology businesses on how they might shape and scale their operations to achieve growth, relevance and profitability. From 2011 to 2014, Mr. Ossie also served on the Majesco North America Advisory Board, as well as on the board of directors of Majesco Software & Solutions from 2013 to January 2015. From 2001 – 2010, Mr. Ossie served in a variety of roles at London Stock Exchange-listed insurance software and business process services firm Innovation Group plc (“Innovation Group”), including Group President and COO, Technology Division, and also served as a member of the board of directors of Innovation Group from 2001 to 2005. From 1996 to 2001, Mr. Ossie was as CEO of MTW Corporation (“MTW”), also an insurance software and business process services company, and along with his investment partner, the Halifax Capital Group, led the sale of MTW to Innovation Group. Earlier in his career, Mr. Ossie spent 19 years at Texas Instruments, during the last four of which, he was Division Manager and Vice President for the Software Group, which grew from the scale of a start-up to 1,300 employees within the course of five years. Mr. Ossie has been Chairman of CertTech LLC from 2011 to present, and has served as a director of Social Security Solutions Inc. from 2011 to present and of NFI Studio from 2010-2011.

William Freitag

Mr. William Freitag is Executive Vice President of the company. since January 2015. In this role, he leads the consulting business at Majesco. Prior to joining Majesco US, Mr. Freitag was CEO and managing partner of Agile. Mr. Freitag joined Majesco in connection with the acquisition of the insurance IT consulting business of Agile in January 2015. Mr. Freitag founded Agile in 1997 to meet companies’ increasingly complex business processing and information technology requirements by providing dedicated consulting services, including business and IT strategy, process innovation, governance, project management, development, quality assurance and support services. Prior to founding Agile, Mr. Freitag was employed as Director of Crum & Foster from 1993 to 1997, during which period he played a key role in the divestiture of Crum & Foster from Xerox, managing the restructuring of an IT services business with approximately US$70 million annual revenue specializing in commercial P&C insurance. In that position, he increased corporate earnings from an US$11 million annual loss prior to the divesture to a US$4 million annual net income within 3 years, customer satisfaction from 36 to 84% and employee satisfaction from 35 to 82%. Mr. Freitag also served as director of enterprise consulting for Computer Task Group, Inc., a professional services firm with 4,000 professionals in seven countries from 1989 to 1993. His 30 years of experience spans multiple industries, including insurance, financial services, pharmaceuticals and the public sector. He began his career as a systems engineer for RCA. Mr. Freitag has a B.S. in Mathematics from Fairfield University and has attended the Executive Education program at Harvard Business School.

Chad Hersh

Mr. Chad Hersh is Executive Vice President of the company. He has served as an Executive Vice President of Majesco US since November 2014. In this role, Mr. Hersh leads Majesco’s L&A solutions business. Prior to joining Majesco US, Mr. Hersh was a Senior Vice President in the insurance practice of The Nolan Company, a management consulting firm, from August 2014 through November 2014, and was a Managing Director at Novarica Inc. (“Novarica”) from 2008 to August 2014. At Novarica, Mr. Hersh was the primary researcher and author of market-leading reports on insurance core systems. Mr. Hersh has led many vendor selection projects for U.S. and international insurers during his work at Novarica and elsewhere. Previously, Mr. Hersh was employed by analyst firm Celent (a part of the Oliver Wyman Group) from 2003 to 2008, and served at American General Life Insurance Company and affiliates, including AIG’s domestic life insurance divisions, from 2000 to 2002 in positions of increasing responsibility, culminating as e-Business Director. Mr. Hersh began his career in IT and management consulting roles, including at Ernst & Young Consulting (now Capgemini) and Computer Sciences Corporation. He is a frequent speaker at industry conferences, including events by Insurance Accounting and Systems Association (IASA), Association for Cooperative Operations Research and Development (ACORD), Property Casualty Insurers Association of America (PCI) and LOMA. Mr. Hersh holds both a BA in Economics and an MS in Accounting with a Management Information Systems concentration from Rice University.

Prateek Kumar

Mr. Prateek Kumar is Executive Vice President of the company. since February 2015 at Majesco US, responsible for acquiring new customers and deepening relationships with customers across both the L&A and P&C lines of business. Mr. Kumar oversees sales, client relationships, pre-sales and new strategic initiatives. Prior to this, he served as Senior Vice President of Sales and Account Management from 2014 to February 2015, as Vice President from 2010 to 2014 and as Assistant Vice President from 2008 to 2010 and, in both roles, was also responsible for acquiring new customers and deepening relationships with existing customers. Mr. Kumar was previously an Assistant Vice President with Systems Task Group, an insurance software firm, from 2003 to 2008, which was acquired by Majesco. Prior to Majesco, Mr. Kumar worked as an IT consultant with the Exeter Group in the areas of IT strategy, planning and program management from 2000 to 2002. He holds a B.A. from Kurukshetra University (Kurukshetra, India) and an M.B.A. from Virginia Polytechnic Institute and State University.

Manish Shah

Mr. Manish D. Shah is Executive Vice President of the company. He had earlier served as director and President of Cover-All since November 2008 and as Chief Executive Officer since July 2013. Mr. Shah served as Cover-All’s Chief Technology Officer from 2004 until his promotion to the position of Chief Executive Officer. He also served as Cover-All’s Executive Vice President from 2008 until his promotion to the position of President. Mr. Shah served as Cover-All’s Director of Technology from 2002 through 2004 and served as a technology consultant to Cover-All from 2000 through 2001. Prior to joining Cover-All, Mr. Shah held several technology management positions at various companies such as Andersen Consulting, P&O Nedlloyd and Tata Consultancy Services in different industries for over 10 years. Mr. Shah graduated with honors from the Columbia University Executive MBA Program.

Ann Massey

Ms. Ann F. Massey is Senior Vice President - Finance of the company. Massey has served as CFO of Cover-All since 2001, as Secretary since 1997 and as Controller since 1997. From 1996 to 1997, Ms. Massey served as Cover-All’s Assistant Treasurer. From 1994 until 1996, Ms. Massey served as Assistant Controller for Cover-All’s insurance services division. Prior to 1994, Ms. Massey served as Cover-All’s Accounting Manager since 1989. Ms. Massey joined Cover-All from Pittston Petroleum Inc., where she was Cost Accounting Manager. Ms. Massey has over 30 years of experience in finance and accounting. Ms. Massey holds a B.S. in accounting and a M.B.A. in Finance from Fairleigh Dickinson University.

Lori Stanley

Ms. Lori Stanley is General Counsel of the company. She has served as General Counsel, North America for Majesco since July 2011 and as Corporate Secretary since December 2011, and serves as General Counsel and Corporate Secretary of Majesco US. Prior to joining Majesco US, Ms. Stanley was General Counsel and Corporate Secretary of enherent Corp. (“enherent”), since April 2004, following enherent’s acquisition by merger of Dynax Solutions, Inc. (“Dynax”). From July 2002 to March 2004, she was General Counsel of Dynax, and Vice President of Human Resources and Corporate Secretary since April 2003. Ms. Stanley also served as a member of the board of directors of Dynax from September 2003 to March 2004. From November 2000 to June 2002, Ms. Stanley was General Counsel and Vice President of Human Resources for The A Consulting Team, Inc. (now known as Helios & Matheson Analytics, Inc.). From July 1999 to October 2000, Ms. Stanley was the Vice President of Legal Operations and Human Resources for The Netplex Group, Inc. From January 1997 to June 1999, Ms. Stanley was General Counsel of the Solutions Division of Computer Horizons Corp. She has a B.S. from St. John’s University and a J.D. from Seton Hall Law School.

Radhakrishnan Sundar

Mr. Radhakrishnan Sundar is Executive Director of the company. He completed his B.E. in Electronics from the Regional Engineering College, Trichy, after which he did his PGDM from the Indian Institute of Management, Ahmedabad in 1979. He worked for two years with HCL Ltd., after which he co-founded Mastek. Mr. Sundar has extensive experience in the software industry and actively participated in various strategic initiatives taken by Mastek Group.

Varika Rastogi

Rajesh Hukku

Mr. Rajesh Hukku is Director of the Company. Since November 2010, after a career spanning over three decades in the Information Technology field, Mr. Hukku is an independent investor, and consultant / advisor to several technology companies in the U.S. and India. He has previously held various senior executive positions at Oracle Corporation, a multinational computer technology corporation, Oracle Financial Services Software Ltd. in India, (previously known as i-flex solutions ltd.) an IT solutions company serving financial institutions in over 125 countries, Tata Consultancy Services, Citicorp Overseas Software Ltd., and Citicorp North America, Inc. As CEO and later as Chairman, he championed the growth of i-flex solutions from a mere startup in 1992, into a global leader in the field of Banking Software with a revenue of approx. $650M by 2009. Mr. Hukku has held several board positions. Mr. Hukku has received several awards, including the Entrepreneur of the Year Award awarded by Ernst & Young in 2002, the Star of Asia awarded by Businessweek in 2003, the Dewang Mehta award for innovation in IT awarded by the government of India in 2003, the Global Entrepolis Award awarded by the Prime Minister of Singapore in 2004, the Order Bernardo 0 Higgins — Great Official awarded by the President of Chile in 2005, the Stevie Award in the best chairman category awarded in 2006, and the Outstanding 50 Asian Americans in Business awarded by the Asian American Business Development Center in New York in 2006. Mr. Hukku graduated from Birla Institute of Technology and Science, Pilani, India with a BE (Hons) degree in electrical and electronics engineering.

Wes Thompson

Arun Maheshwari

Dr. Arun Kumar Maheshwari is Non-Executive Director of the company. He is the Chairman of Majesco US. He has also served as a director of Mastek since 2013. From 2005 until his retirement in 2009, Dr. Maheshwari served as founder and President of Fiserv Global Services Group (“FGS”), a subsidiary of Fiserv, Inc. Fiserv”), a Fortune 500 company providing information management systems and services to the financial and insurance industries. Prior to FGS, Dr. Maheshwari founded and led CSC India, a subsidiary of Computer Sciences Corporation, as Founder President and Managing Director from 1996 to 2005. From 1985 to 1996, Dr. Maheshwari was a senior information technology and finance executive with Continental Insurance (now CNA), following service with Reliance Insurance as a senior information technology executive from 1981 to 1985. Earlier, Dr. Maheshwari specialized in strategy and information technology consulting at McKinsey & Company in New York City from 1977 to 1981. He has previously served as a director of Fortegra Financial Corp., a NYSE-listed insurance product and services company, having stepped down in December 2014. He served as a director of Duck Creek Technologies now Accenture), an insurance software firm, and has served as a director of Eagle Eye Analytics, a provider of predictive analytics software for the insurance industry. Dr. Maheshwari is active as a private investor, investing primarily in technology start-ups and real estate. Dr. Maheshwari holds a B.S. from Rajasthan University Jaipur, India), a PGDM from IIM Calcutta, a M.S. in Computer Science from Stanford University, an M.B.A. from Columbia University and a Ph.D. from the Wharton School of Business at the University of Pennsylvania.

Madhu Dubhashi

Ms. Madhu Dubhashi is Non-Executive Independent Director of the company. She graduate (Economics Honours) from Miranda House, Delhi University (1968-71). She has also completed post-graduation in Business Administration from the Indian Institute of Management, Ahmedabad (1971-73). Ms. Dubhashi has over 4 decades of experience in the financial services industry, having worked with ICICI Bank, Standard Chartered Bank, JM Financial & Investment Consultancy Services Pvt Ltd, and Global Data Services of India Ltd (wholly-owned Subsidiary of CRISIL). Currently she is the Managing Partner at INNOVEN Business Consultancy.