GlobalLogic Announces Appointment of New President and CEO

Rhea-AI Summary

GlobalLogic Inc., a Hitachi Group company, announced a leadership change, appointing Nitesh Banga as the new President and CEO effective October 1, 2022. He succeeds Shashank Samant, who will transition to Chairman of the Board and serve as an Executive Advisor to Hitachi's digital systems sector. Nitesh, previously COO, brings extensive experience in strategy and operations, having led significant growth during his tenure. This transition aims to sustain momentum in GlobalLogic's digital engineering space, emphasizing continued growth and innovation within the Hitachi framework.

Positive

• Nitesh Banga's appointment is expected to bring fresh perspectives and strong leadership.
• Shashank Samant remains involved as Chairman, ensuring continuity in strategic direction.

Negative

• Shashank Samant's departure from the CEO role may raise concerns about leadership continuity.

SAN JOSE, Calif.--(BUSINESS WIRE)-- GlobalLogic Inc., a Hitachi Group Company and leader in Digital Engineering, today announced that its President and CEO Shashank Samant will be succeeded by the firm’s current Chief Operating Officer (COO) Nitesh Banga, who will become the new President and CEO effective October 1, 2022. Nitesh is a well-rounded and seasoned executive who has successfully worked across functions from Strategy, Go-To-Market, Engineering, and Operations while also launching similar businesses in the Japan market. Shashank will assume a new role as Chairman of the GlobalLogic Board, in addition to being the Executive Advisor to Mr. Toshiaki Tokunaga, the Head of Hitachi Digital Systems and Services (DSS) Sector. In this capacity, Shashank will continue to support the GlobalLogic business as well as advise on Hitachi Group's broader digital business growth strategy.

Nitesh Banga appointed as digital engineering leader GlobalLogic's new President and CEO effective October 1, 2022. Current President and CEO Shashank Samant to assume new role as Chairman of the Board. (Photo: Business Wire)

For more than a decade as CEO, Shashank led GlobalLogic through strong growth phases during which he oversaw several strategic acquisitions and digital capability expansion efforts. His leadership and expertise took the company from a group of elite software engineers to a global digital engineering leader, eventually becoming a part of the Hitachi Group.

“I am proud of the industry leading growth we achieved during my time as GlobalLogic’s CEO,” commented Shashank. “I believe that for organizations to continue to lead and succeed, their executive leadership must also evolve. Nitesh has proven throughout his career that he is a strong leader across both vision and execution. I am confident that he will set a successful course that will take GlobalLogic through its next major growth phases. I’m also very excited to continue supporting GlobalLogic in my new role as Chairman of the Board as well as to contribute to Hitachi Group’s digital business expansion and digital transformation acceleration.”

Since his arrival in 2018, Nitesh has led critical functions of GlobalLogic’s business. He contributed significantly to GlobalLogic’s noteworthy growth while also adeptly navigating the company through monumental challenges including the COVID-19 pandemic and the war in Ukraine.

Nitesh is a services industry veteran with diversified expertise ranging across Strategy, Business Development, Service Delivery, Operations, and Mergers and Acquisitions. He has adeptly run large-scale P&L organizations and has a deep understanding of Western and Eastern cultures, including Japan. Prior to joining GlobalLogic, he spent more than two decades at IT services and consulting firm Infosys.

“It’s an honor and great responsibility to lead GlobalLogic,” said Nitesh. “The passion, expertise, and deep commitment to our clients’ success demonstrated by our employees has created an invigorating, creative institution. As we enter our third decade, we have a unique opportunity to accelerate enterprise digital transformation backed by Hitachi’s incredible heritage, global reach, and trusted brand.”

“Since GlobalLogic joined the Hitachi Group, Shashank has made significant contributions to the growth of its entire digital business. I look forward to his continued strength in helping the Hitachi Group grow and transform through digital technology,” said Keiji Kojima, President and CEO of Hitachi, Ltd. "Nitesh has had an excellent track record as COO of GlobalLogic and I am confident that he will be able to maintain the high momentum of growth in the future. We are pleased to be working with a leader of his caliber to deliver new value through innovation, Green, and Digital solutions for our customers around the world."

“With GlobalLogic becoming a part of the Hitachi Family, Hitachi’s digital capability has expanded tremendously,” said Mr. Tokunaga. “I would like to thank Shashank for his capable leadership and look forward to his contributions as Chairman of the Board. Going forward, under Nitesh's leadership, I expect GlobalLogic to continue creating synergies with Hitachi Digital and other Hitachi Group companies, and to dramatically expand the digital business through DX support for customers worldwide.”

About GlobalLogic Inc.
GlobalLogic (www.globallogic.com) is a leader in digital engineering. We help brands across the globe design and build innovative products, platforms, and digital experiences for the modern world. By integrating experience design, complex engineering, and data expertise – we help our clients imagine what’s possible and accelerate their transition into tomorrow’s digital businesses. Headquartered in Silicon Valley, GlobalLogic operates design studios and engineering centers around the world, extending our deep expertise to customers in the automotive, communications, financial services, healthcare and life sciences, manufacturing, media and entertainment, semiconductor, and technology industries. GlobalLogic is a Hitachi Group Company operating under Hitachi, Ltd. (TSE: 6501), which contributes to a sustainable society with a higher quality of life by driving innovation through data and technology as the Social Innovation Business.

About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.

GlobalLogic is a trademark of GlobalLogic. All other brands, products or service names are or may be trademarks or service marks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220803006014/en/

Media Contact:

GlobalLogic, Inc. (Global)

Heather Ailara

211 Communications

+1.973.567.6040

heather@211comms.com

Source: GlobalLogic Inc.

FAQ

Who is the new CEO of GlobalLogic and when did the change take effect?

Nitesh Banga is the new CEO of GlobalLogic, effective October 1, 2022.

What role will Shashank Samant assume after stepping down as CEO?

Shashank Samant will become the Chairman of the Board and serve as an Executive Advisor to Hitachi's digital systems sector.

What experience does Nitesh Banga bring to his new role as CEO of GlobalLogic?

Nitesh Banga has extensive experience in strategy, operations, and business development, having previously served as COO of GlobalLogic.

How might the leadership change at GlobalLogic impact its growth strategy?

The leadership change aims to maintain momentum in GlobalLogic's growth and innovation, leveraging Hitachi's resources.