Noida, October 04, 2006 : R Systems International Ltd.
(NSE: R Systems) a leading providers of outsourced product development and customer
support services today announced that at a meeting of the board of directors held
last week it expanded the board with Suresh Paruthi joining the board as an
independent director and Raj Swaminathan, Chief Operating Officer, joining the
board as an executive director. With their addition R Systems board consists of
eight directors of which four are independent directors.
Suresh Paruthi brings his extensive business and technical experience that he has gained
with organizations like Siemens, Bhartia Cutler Hammer and Omron Asia Pacific Pte. Ltd. to
the R Systems board. Currently, Suresh Paruthi is the CEO of Venus Oilfield Services Pvt.
Ltd., a company involved with energy solutions. Mr. Paruthi is an alumni of the Indian
Institute of Technology, Kharagpur.
Mr. Raj Swaminathan is currently the Chief Operating Officer of R Systems and has been
involved with R Systems business since 2000. Prior to R Systems, Raj has had a
distinguished 11 year career at GE where he was Vice President & CIO at GE-Countrywide,
India and part of the senior GE Global Consumer Finance corporate IT team.
Earlier in his career, Raj also headed the IT function at Standard Chartered Bank for the
consumer, corporate banking and treasury businesses. Mr. Swaminathan is an alumni of XLRI,
Jamshedpur.
“We are delighted that Suresh Paruthi and Raj Swaminathan have joined our board,”
said Rekhi Singh Chairman and CEO of R Systems. He added, “Their varied business and
technical experience in providing leadership in the areas of fast changing technologies
to successfully execute large and complex projects that have delivered measurable
tangible benefits will be valuable to the R Systems leadership team as we continue to
grow rapidly.”
About R Systems International Ltd.
R Systems International Ltd. founded in 1993, is one of the leading provider of
outsourced product development and customer support services. We help companies
accelerate the speed to market for their products and services with a high degree of
time and cost predictability by using our proprietary pSuite execution framework.
Clients can choose services specific to their needs from R Systems iPLM
suite of services. We help companies build scalable, configurable and secure products
and applications; and help our clients support their customers for products and services
using our global delivery model. R Systems rapidly growing customer list includes a
variety Fortune 1000, government and mid-sized organizations across a wide range of
industry verticals including Banking and Finance, High Technology and Independent
Software Vendors, Government, HealthCare, Manufacturing and Logistic Industries. R
Systems maintains five centers for Software Excellence, and using our global delivery
model we serve customers in the US, Europe, South America, the Far East, the Middle
East and Africa.
Safe Harbor:
This press release contains forward-looking statements. These forward-looking
statements are subject to 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 the success of our investments, risks and uncertainties
regarding fluctuations in earnings, our ability to manage growth, intense competition
in IT and consulting 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 and
consulting services, disruptions in telecommunication networks or system failures,
our ability to successfully complete and integrate potential acquisitions, liability
for damages on our service contracts, withdrawal of governmental fiscal incentives,
political instability and regional conflicts, legal restrictions on raising capital or
acquiring companies outside India, and unauthorized use of our intellectual property
and general economic conditions affecting our industry. We may, from time to time,
make additional written and oral forward-looking statements, and we do not undertake
to update any forward-looking statements that may be made from time to time by or
on behalf of the Company.