IGate Gets New Brand Identity Under Vemuri
US-based IT services firm iGate has unveiled a new identity under CEO Ashok Vemuri. The new logo has been designed to showcase a refreshed vision, mission and core values, said a company statement.
The firm has been reorganizing its structure and analyzing client accounts to enhance cost efficiency and scale up its operations. “iGate recently regrouped its business units based on industry verticals and also increased its hiring rate over the last two quarters,” it said.
“We have been making changes in the organization to be closely aligned with renewed expectations of our clients and employees,” said iGate President and CEO Ashok Vemuri.
The new logo captures iGate’s positioning appropriately underscored by the tenets of speed, agility and imagination, he added.
Former Infosys leader Ashok Vemuri, who took over the reins at iGate last year after Phaneesh Murthy’s controversial exit, has created a major shake-up in the organization. His clear mantra has been focusing on new model, new leadership.
After Vemuri took over the helms, the organization got a new business structure. “We are developing a new organizational structure where the leaders will have responsibility and accountability towards the clients, shareholders and employees,” Vemuri explained in a statement last November.
The objective, clearly, is to create smaller more focused groups that not only have more power but are able to address important verticals and markets in a better way. The new business model was initiated to bring in greater decentralization and verticalization in the organization.
Analysts predicted this would will mean iGate is looking at leaders who can independently drive each unit and leverage the emerging business opportunities - a move that had certainly taken the company away from the personality-driven era of Phaneesh Murthy that also include moving beyond iTops, the outcome-based model popularized by former CEO Murthy as the company’s unique proposition to clients.
Vemuri also told media and analysts that while the firm will continue with its existing strategy, the tone will be “reflective of the directional change.” In March 2014, it had announced a debt refinancing programme providing for substantial interest cost savings over time. The new logo is also a reflection of that change.
For January-March quarter, the New Jersey-headquartered firm’s net profit fell 9% to $31.6 million from $34.8 million in the previous year. The company however, posted a 10% growth in income at $302.2 million last quarter fuelled by growth in North America and Europe.
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