Exela Technologies, Inc. Announces CFO Transition
May 21 2020 - 4:00PM
Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA),
a location-agnostic global business process automation (BPA) leader
across numerous industries, today announced that Shrikant Sortur,
who has served as Exela’s Executive Vice President, Global Finance
since 2017, has been promoted to Chief Financial Officer as part of
the Company’s succession planning process. Jim Reynolds, who has
served as CFO since 2017, will remain a non-employee member of the
Company’s Board of Directors.
“We are excited to announce the promotion of Shrikant Sortur to
CFO,” said Ronald Cogburn, Chief Executive Officer of Exela, and
added, “Shrikant brings extensive experience and proven financial
leadership managing our complex global finance operations over the
past three years. His skills and expertise make him uniquely
qualified to serve as our CFO and provide strategic vision to Exela
as we execute our plans and objectives. I would like to thank Jim
for his many contributions as CFO, and look forward to his
continued partnership as a Board member.”
Mr. Shrikant Sortur, 47, has served as the Exela’s Executive
Vice President, Global Finance since July 2017 and previously
served as Senior Vice President, Global Finance of SourceHOV
Holdings, Inc. (“SourceHOV”) from 2016 until SourceHOV’s business
combination with Novitex Holdings, Inc. in July 2017. Mr. Sortur
served in positions of increasing responsibility at predecessor
companies to SourceHOV from 2002 until July 2017. Mr. Sortur's
career spans almost two decades of varied experience and has
established a leadership role in the finance organization, with
responsibility for corporate accounting and financial reporting,
financial planning and analysis, accounting shared services,
post-acquisition integration and lean operations. In these roles,
he has worked closely with executive leadership on long-term
strategic planning, including multiple M&A transactions.
About Us Exela is a business process automation
(BPA) leader, leveraging a global footprint and proprietary
technology to provide digital transformation solutions enhancing
quality, productivity, and end-user experience. With decades of
expertise operating mission-critical processes, Exela serves a
growing roster of more than 4,000 customers throughout 50
countries, including over 60% of the Fortune® 100. With
foundational technologies spanning information management, workflow
automation, and integrated communications, Exela’s software and
services include multi-industry department solution suites
addressing finance and accounting, human capital management, and
legal management, as well as industry-specific solutions for
banking, healthcare, insurance, and public sectors. Through
cloud-enabled platforms, built on a configurable stack of
automation modules, and over 22,000 employees operating in 23
countries, Exela rapidly deploys integrated technology and
operations as an end-to-end digital journey partner.
Forward-Looking Statements: Certain statements
included in this press release are not historical facts but are
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Forward-looking statements generally are accompanied by words
such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”,
“believe”, “estimate”, “predict”, “potential”, “seem”, “seek”,
“continue”, “future”, “will”, “expect”, “outlook” or other similar
words, phrases or expressions. These forward-looking statements
include statements regarding our industry, future events, the
estimated or anticipated future results and benefits of the
Business Combination, future opportunities for the combined
company, and other statements that are not historical facts. These
statements are based on the current expectations of Exela
management and are not predictions of actual performance. These
statements are subject to a number of risks and uncertainties,
including without limitation those discussed under the heading
“Risk Factors” in Exela’s most recently filed Annual Report on
Form-10-K filed with the Securities and Exchange Commission. In
addition, forward-looking statements provide Exela’s expectations,
plans or forecasts of future events and views as of the date of
this communication. Exela anticipates that subsequent events and
developments will cause Exela’s assessments to change. These
forward-looking statements should not be relied upon as
representing Exela’s assessments as of any date subsequent to the
date of this press release.
Find out more at www.exelatech.com Follow Exela on LinkedIn
https://www.linkedin.com/company/exela-technologies/ Follow
Exela on Twitter: https://twitter.com/exelatech
Media Contact: Kevin McLaughlin
T: 646-277-1234 E:
kevin.mclaughlin@icrinc.com
Investor Contact: William
MainaE: IR@exelatech.comT:
646-277-1236
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