Kiran Karnik Decides Not to Stand for Re-Election to EXL Board of Directors
NEW YORK, April 16, 2013 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. ("EXL")
(Nasdaq:EXLS), a leading business process solutions company, today announced
that Kiran Karnik has decided not to stand for re-election to EXL's Board of
Directors at the annual meeting of stockholders in June 2013.
"It is with considerable regret that I have decided to not seek re-election to
the Board of Directors of EXL," remarked Mr. Karnik. "Other commitments have
made it increasingly difficult for me to devote the time that EXL
deserves.Five years as a member of the Board have provided me with rich
experience and much learning from my fellow Board colleagues and the
extraordinarily talented management team. EXL has proved its mettle by
successfully navigating the choppy waters of a difficult market in the last
few years – converting challenges into opportunities – and is well-positioned
for the future."
Vikram Talwar, Chairman, commented, "Kiran's thoughtful perspectives on EXL
and its industry, as well as his focus on corporate governance have greatly
benefited EXL's shareholders and management team.On behalf of the Board of
Directors, I would like to sincerely thank Kiran for his years of service to
Rohit Kapoor, Vice Chairman and CEO, commented, "Kiran's counsel and guidance
have been invaluable in shaping EXL's strategy through the last several years
of growth and change in the industry.On behalf of all EXL employees, I would
like to thank Kiran for his outstanding contribution, and wish him the best in
his future endeavors."
Kiran Karnik joined EXL's Board of Directors in September of 2008 as an
independent director. From September 2001 through January 2008, Mr. Karnik
served as President of NASSCOM, an Indian industry body representing companies
in the information technology (IT) and IT-enabled services sectors. His
recently published book "The Coalition of Competitors" explores competition
and cooperation in the IT sector, and the role that NASSCOM played in the
success and growth of the IT industry.
About ExlService Holdings, Inc.
EXL (Nasdaq:EXLS) is a leading business process solutions company that helps
companies drive business impact and adapt faster to the changing global
marketplace. EXL provides operations management, embedded analytics and
technology platforms to organizations in the banking and financial services,
healthcare, insurance, utilities, transportation and logistics, and travel
industries. With more than 21,000 people around the world, we work with our
clients as strategic partners to execute operations, identify opportunities to
gain a competitive edge, and create new channels for growth and savings.
Headquartered in New York and operational since 1999, EXL is present in the
U.S., U.K., Singapore, Romania, the Philippines, India, Germany, Czech
Republic and Bulgaria. For more information, visit www.exlservice.com.
CONTACT: Charles Murphy, CFA
Head of Investor Relations
ExlService Holdings, Inc.
280 Park Avenue
New York, NY 10017
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