EXL Announces David Kelso to Retire from Board of Directors

Rhea-AI Summary

ExlService Holdings, Inc. (NASDAQ: EXLS) announced that David Kelso will retire from the Board of Directors in June 2021 and will not stand for re-election at the 2021 Annual Meeting. Kelso has served on the Board since 2006, significantly contributing to EXL's growth from $75 million in revenue in 2006 to nearly $1 billion in 2020. Rohit Kapoor, CEO, praised his leadership in enhancing EXL's positioning in Insurance and Healthcare, while Nitin Sahney will replace him as Chairperson of the Nominating and Governance Committee as of January 1, 2021.

Positive

• David Kelso's leadership has driven significant growth, with revenue increasing from $75 million in 2006 to nearly $1 billion in 2020.
• Kelso's contributions were pivotal in establishing strong business segments, especially in Insurance and Analytics, which now contribute approximately 40% of EXL's revenue.
• Nitin Sahney’s appointment as Chairperson may bring fresh leadership and continuity to the Board.

Negative

• The retirement of a long-serving board member raises concerns about potential continuity and experience gaps in leadership.

NEW YORK, Jan. 21, 2021 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a leading operations management and analytics company, today announced that David Kelso will be retiring from the Board of Directors of EXL in June 2021 and will not stand for re-election at EXL’s 2021 Annual Meeting of Stockholders.

“EXL will greatly miss David, and we thank him for the wisdom and guidance he has contributed to the Company since joining the Board in 2006,” said Garen Staglin, Chairman of the Board of EXL. “His leadership and stewardship as Chairman of the Audit Committee from 2006 and later as the Chairman of the Nominating and Governance Committees from 2012 have been important to EXL’s success.”

Rohit Kapoor, Vice Chairman and Chief Executive Officer of EXL said, “David’s contributions to EXL have been significant and meaningful. He helped shape EXL to be the company we are today, including building our strong presence in Insurance, launching our Healthcare practice, and achieving a leadership position in Analytics, which now contributes approximately 40% of EXL’s revenue. We have all benefited from his visionary strategic thinking and focus on creating strong differentiation in the marketplace. I am thankful for David’s service to EXL and wish David and his family all the very best following his retirement.”

“The opportunity to serve on the Board of EXL has been a great pleasure,” said Kelso. “EXL has grown from $75 million in revenue in 2006 to almost $1 billion in revenue in 2020 owing to the great team and culture that we have here. This was exemplified again in 2020, as the Company successfully navigated the pandemic coming out of it stronger than before. I will leave knowing EXL is on excellent footing as it enters its next decade.”

Nitin Sahney, a member of the Nominating and Governance Committee, was appointed as the committee’s new Chairperson effective as of January 1, 2021.

About ExlService Holdings, Inc.

EXL (NASDAQ: EXLS) is a leading operations management and analytics company that helps our clients build and grow sustainable businesses. By orchestrating our domain expertise, data, analytics and digital technology, we look deeper to design and manage agile, customer-centric operating models to improve global operations, drive profitability, enhance customer satisfaction, increase data-driven insights, and manage risk and compliance. Headquartered in New York, EXL has approximately 31,800 professionals in locations throughout the United States, the UK, Europe, India, the Philippines, Colombia, Australia and South Africa. EXL serves multiple industries including insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics, media and retail, among others. For more information, visit www.exlservice.com.

Media Contact:
Michael Sherrill
Vice President Marketing
646-419-0778
michael.sherrill@exlservice.com 

Investor contact:
Steven N. Barlow
Vice President Investor Relations
917-596-7684
steven.barlow@exlservice.com

FAQ

What is the significance of David Kelso's retirement from the EXL Board?

David Kelso's retirement is significant as he has been a key figure in EXL's growth and strategy since 2006, raising concerns about leadership continuity.

Who will replace David Kelso as Chairperson of the Nominating and Governance Committee?

Nitin Sahney will replace David Kelso as Chairperson of the Nominating and Governance Committee effective January 1, 2021.

How has EXL's revenue changed during David Kelso's tenure?

Under David Kelso's tenure, EXL's revenue increased from $75 million in 2006 to nearly $1 billion in 2020.

What impact did David Kelso have on EXL's business segments?

David Kelso played a crucial role in shaping EXL's strong presence in Insurance and the launch of its Healthcare practice.