Portland Group Management Changes
November 2013
Portland Group CEO, Gavin Solsky has announced the appointment of Bruce Stevenson as the new Chief Executive Officer of Portland Group. Bruce will be relocating with his family to Sydney in order to take up the role and his appointment will be effective from 1 January 2014.
Bruce joined Portland Group more than 10 years ago and has worked across the business, most recently running Portland's Melbourne office where he has been able to build a first class team and deliver outstanding results for many Portland clients. Gavin commented "I have had the pleasure of working with Bruce for a long time and have a huge regard for his intellect, his ability to work with and support his teams, his ability to coach individuals around him and of course his ability to make an impact in delivering value to our clients – he also has a great sense of humour!"
While Gavin will be stepping away from full-time executive duties, he will remain with the company as a non-executive Director and board member. This will allow continued support for the management and broader team and a role in the continued development and success of Portland Group and Infosys. Gavin continues "It's been more than 14 years since I co-founded the company and it’s been an incredible journey on many levels but I am looking forward to taking a break and spending more time with my family. I will officially conclude my full-time responsibilities on the 31st of March 2014 following a 3 month transition period with Bruce".
The combination with Infosys has provided Portland Group with a strong platform and set of capabilities to continue to drive value for clients in this region and globally. This has been evident by the number of joint and significant client wins over the last 12 months. Managing Director Dave Gardiner will be supporting Bruce and the team on major client engagements and also stepping up to take on a broader Portland-Infosys role to lead the development of Infosys Sourcing and Procurement consulting capabilities globally.
Gavin concludes "I would like to extend my thanks to all of the clients I have worked with over the last 14 years. I have enjoyed working with so many of you and look forward to staying connected in the future".
About Infosys Portland
Infosys Portland is a subsidiary of Infosys BPO Ltd., a part of Infosys Ltd. Our mission is to make our clients successful by increasing their profitability through procurement and supply chain improvements. We are unique in providing services to improve efficiency and effectiveness across our clients’ complete procurement and supply chain functions, ranging from innovative, high-end strategy through to effective, low-cost operations and transactional processing. The resulting transformational benefits for clients include lower costs, reduced risk and improved service from client suppliers.
About Infosys BPO
Infosys BPO Ltd. ( www.infosysbpm.com ), the business process outsourcing subsidiary of Infosys Ltd., was set up in April 2002. Infosys BPO focuses on integrated end-to-end outsourcing and delivers transformational benefits to its clients through reduced costs, on-going productivity improvements, and process reengineering. Infosys BPO operates in India, Poland, the Czech Republic, the Netherlands, South Africa, Brazil, Mexico, Costa Rica, the United States, China, the Philippines, Japan and Australia, and as of December 31, 2013, employed 27,894 people. It closed FY 2012-13 with revenues of $583.1 million.
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorised use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarter ended December 31, 2013. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
