Thompson Gnanam Steps in as 3i Infotech's New MD & Global CEO

3i Infotech Ltd names Thompson Gnanam as the company's managing director and global CEO, with immediate effect. Alongside, Mrinal Ghosh has been appointed as the company's chief financial officer, while Avatar Singh Monga has been appointed as an additional director.

As per to a regulatory filing, "As part of the sale of the product business of the company to Azentio Software Pvt Ltd under the business transfer agreement (BTA) dated December 28, 2020, Padmanabhan Iyer will move to Azentio Software. Accordingly, he has stepped down as managing director and global CEO and CFO (chief financial officer) of the company."

It adds, "The Board has approved change in designation of Padmanabhan Iyer from MD and global CEO to a non-executive director, with effect from April 1, 2021, on account of the consummation of transactions contemplated under the BTA.”

Following the resignation of Iyer, Thompson Gnanam has been named as the company's MD and global CEO for a period of five years, subject to approval of the company's shareholders at its ensuing general meeting.

Thompson has been associated with global organisations such as Danaher, Hexaware, Hewlett Packard, Vodafone, TATA BSS, LEBARA MOBILE, and Conneqt Business solutions.

The filing noted that Avatar Singh Monga has been appointed as an additional director (designated as non-executive independent director) of the company for a period of five years with effect from April 1, 2021.

However, in December last year, 3i Infotech Ltd had announced venturing into definitive agreements to sell its software products business to the funds advised by Apax Partners for Rs.1,000 crore.

Sale of the Product Division and the rest of the global software product business has been concluded on March 31, 2021, except in Saudi Arabia and Thailand. The sale of the software product business in Thailand and Saudi Arabia is expected to be concluded post the receipt of the required regulatory approvals, according to the previous filing by the company.